Announcement of Bank Borrows Seven Hundred Fifty Million US Dollars from Saudi Arabia on December 18, 1974

1818 H STREET, N.W., WASHINGTON D. C. 20433 TELEPHONE: EXECUTIVE 3-6360 Bank News Release December 18, 1974 :OANK BORROWS $750 MILLION FRON SAUDI ARABIA The World Bank announced its largest single borrowing operation to date -- a $750,000,000 placement of its bonds in Saudi Arabia. The agreement with the Saudi Arabian Monetary Agency provides for repayment of the obligation by the World Bank on December 15, 1984 .. The proceeds of the issue will be used in the general operations of the World Bank and will add to the resources available to the Bank for the financing • of productive projects throughout the developing world . The management of the World Bank has expressed its grateful appre- ciation to Saudi Arabia for this most welcome and significant support given to the World Bank in its development effort. 0 •