International Business
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<i> Times Staff and Wire Reports</i>
World Bank Approves Loans for Mexico: The agency said credit of about $1.5 billion will help shore up the nation’s battered banking system and shelter its poor from the fallout of its economic crisis. The package consists of a $1-billion loan to support the banking system, a $500-million credit to provide basic social services for the poor and a $13.8-million supplemental loan for technical financial assistance. The World Bank funding comes on the heels of approval of a $1.25-billion loan package for Mexico by the Inter-American Development Bank.
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