Yugoslavia Gets Loan For Aluminum Plant
Undated (AP) _ WASHINGTON (AP) - A section of the World Bank, the International Finance Corporation, announced Sunday a loan of $32.4 million expand production of aluminum at a government-owned plant in Yugoslavia.
The corporation, which normally makes direct loans to businesses rather than to governments, said the loan brings to $270 million it has invested in Yugoslavia, where all large-scale enterprises are run by the Communist government.
The corporation lends to government-owned industries that it considers to be run on business lines, and has money 17 of them in Yugoslavia. The loan will go to the Tovarna Glinice in Alumnija Boris Kidric, in the Yugoslav republic of Slovenia.
Of the 150 governments that own the World Bank, 128 are also in the corporation, with the United States holding the largest single share. Technology for the project will be provided by Pechiney, a French aluminum company and a line of credit will be used from the French bank, Banque Parisbas.