The World Bank posted a record profit for the year.
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The organization reported a profit of $1.14 billion for the fiscal year ended June 30. Loans amounted to $14.4 billion, down from last year’s $15.5 billion. Bank officers said profits came largely from lower borrowing costs and the bank’s investment of its large liquid funds, not from higher charges to countries being helped. The bank gets most of its money from borrowing in the United States and other rich countries and then lends the proceeds to poor ones. The bank also reported a drop in the total of loans to poor countries. It was the first year of decline in the bank’s 39-year history.
World Bank’s Profit In Billions of Dollars
1985 1.4 1984 0.75 1983 0.6
Fiscal years ended June 30
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