FOR IMMEDIATE RELEASE



    World Bank
•   1818 H Street, N:W., Washington,_ D.C. 20433, U.S.~~• Telephone: (202) 477-1234



            SUMMARY NEWS RELEASE                                                      June 25, 1981
                                  WORLD BANK AND IDA'APPROVE.$473.MfLLfON. IN.LOANS
                       People's Republic of China to·Recerve its'First·world'Bank Loan

                  The World Bank and its affiliate for concessionary lending, the international
           Development Association (IDA), have approved lending of $473 million to 11 countries.
           The countries include the People's Republic of China which recelves its first
           financing from the World Bank since it assumed Chinats representation at the Bank
           in May 1980. Other countries to receive World Bank support are: Cameroon, Costa
           Rica, Dominican Republic, Panama, Peru, Portugal, Senegal, Sri Lanka, Thailand, and
           Togo.

                  China       will carry out a university development project with a Bank loan of
           $100 million       and an IDA credit of SOR 81.4 million ($100 million). The project will
           help China's       efforts to achieve one of its top priorities--the development of higher
           education in       science and engineering to relieve the persistent shortage of trained
           manpower.



•                 The project will help increase enrollment of science and engineering students
           at 26 leading universities from 92,000 to 125,000, introduce graduate degree programs,
           improve the quality of teaching and research, and strengthen the management of
           universities and the Ministry of Education.

                  In Cameroon, an IDA credit of SOR 8.2 million ($10 million) will go to a
           second technical cooperation project to provide the expertise needed to increase the
           government's capacity to execute its Fifth Development Plan (1981-86).

                  Costa Rica will receive a $3 million World Bank loan to assist government
           efforts in assessing and developing the country•s petroleum potential and to prepare
           studies of the energy and refining sectors.

                   Dominican Repu~ will help finance the expansion of cocoa and coffee pro-
           dtJction with the support of a $24 mil 1 ?on World Bank loan. Smallholder farmers wi 11
           receive technical assistsnce and credit to finance improvements on their cocoa and
           coffee plantations.

                   In Panama, a $19 million World Bank loan wall help finance the implementation
           of programs for rehabilitation and maintenance of the country's roads.

                  Peru will use a $25 million World Bank loan to provide consultant services
           for preparing studies and documents for power projects and for strengthening the plan-
           ning capacity of ELECTROPERU, the country's principal power authority.




•          NOTE:     IDA credits are denominated in SDRs (Special Drawing Rights), which are valued
                     on the basis of a "basket" of currencies. The U.S. dollar equivalent of the
                     SOR amount of the IDA credit reflects the exchange rates existing at the time
                     of negotiation of the credit.

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       In Portugal, a $20 million World Bank loan will be used by PETROGAL, a
public oil company, to carry out a petroleum exploration project.                   "
       !n Senegal, a $1~.3 million World Bank loan will support a project for
the construction of rail transport for carrying raw materials, supplies, and
products for the fertilizer project of the Industries Chimiques du Senegal.

       Sri Lanka will receive an IDA credit of SOR 73.3 million ($90 million)
to carry out a third project for the development of the Mahaweli Ganga Basin.
Some 28,000 farm families will benefit from increased agricultural production,
mainly rice, expected from the irrigation works to be provided under the project.
                      -
        Thailand, will receive a $57 million World Bank loan to help finance an
irrigation project for increasing rice production on some 27,000 hectares in the
Mae Klang River basin. The project will benefit some 6,800 farm families.
Four out of ten families in the area have incomes below Thailandrs absolute
pave rty level •

       In Togo, an IDA credit of SOR 4.8 million ($5.7 million) will help
finance the provision of consulting services to determine the technical and
economic viability of developing a phosphate fertilizer project.

       The IDA credits will be committed when funds are available.

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