World Bank Will Aid Soviet Union
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BANGKOK, Thailand — The World Bank pledged Thursday to help the Soviet Union overcome its massive economic problems, despite concerns that such aid would divert resources from struggling Third World nations.
World Bank President Lewis T. Preston said that aid to Moscow will not place an undue strain on the bank, which annually approves about $16 billion in loans and also dispenses economic expertise.
Ways to help the Soviet Union switch to a market economy and meet payments on a $65-billion foreign debt dominated the annual conference of the World Bank and International Monetary Fund, which ended here Thursday.
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