[lbo-talk] World Bank to issue yuan bond in China

uvj at vsnl.com uvj at vsnl.com
Fri Jan 16 17:12:36 PST 2004


THE TIMES OF INDIA

FRIDAY, JANUARY 16, 2004

World Bank to issue yuan bond in China

AFP

TOKYO : The World Bank plans to issue yuan-denominated bonds to raise funds for development projects in China , the Japanese daily, Yomiuri Shimbun said.

The Bank has already begun talks with the government and the People's Bank of China with an aim to start issuing the bonds by December, the newspaper said.

If the plan is carried out, the World Bank will be the first international financial institution to issue such bonds in China , it said.

Beijing has previously allowed neither international financial institutions nor foreign banks to issue yuan-denominated bonds in the country, the daily said.

The Washington-based global financial body is considering raising funds in China for spending on development projects, it said.

Under the plan, yuan-based bonds will be issued through the International Finance Corporation, an arm of the World Bank that promotes private sector investment in developing countries, it said.

Copyright © 2004 Times Internet Limited. All rights reserved.



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