The loan, made through the International Development Association, the bank's concessionary lending arm, is for 35 years, including a 10-year grace period.
The poorest of nations are offered long-term, interest-free loans through another subsidiary, the International Development Association.
In a related matter, the bank said its International Development Association would provide a 117.8 million dollar credit to help fight blindness in India.
A legal affiliate of the bank, the International Development Association, committed nearly $5 billion.
The agency focuses on member countries of the International Development Association and countries affected by armed conflict.
Too little and six years late, the Reagan Administration has finally come to appreciate the importance of the International Development Association.
Aid, a gift, is another matter entirely and the International Development Association can legitimately seek structural reform.
By the end of January 1960, fifteen countries signed the articles of agreement which established the International Development Association.
The United States government allocated about $300,000 in assistance through the International Development Association.
The purpose of the International Development Association is to provide capital funds for poorer developing member countries on more flexible terms.
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