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PACIFIC WATCH

China

October 03, 1994|From Times Staff and Wire Reports

China Expected to Borrow $15 Billion Over Next Five Years: China is expected to borrow some $15 billion from the World Bank in the next five years and may borrow a similar amount early next century to finance the most ambitious economic reforms in the developing world, senior World Bank officials said. The communist country is the bank's biggest borrower, and the development agency plans to lend it about $3 billion a year in the next five years. Since 1981, when the bank first began lending to China, it has committed $19.4 billion in loans, of which $9 billion has been paid out so far.

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