ASIAN DEVELOPMENT BANK APPROVES VANUATU

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GOVERNMENT LOAN

PORT VILA, Vanuatu (June 14, 1998 - PACNEWS/Ioane)---The Asian Development Bank has approved a 2.7 billion vatu ($US 202 million) loan to the Vanuatu government.

The country’s Minister of Finance, Sela Molisa, told Parliament last week that of the total loan, 250 million vatu ($US 1.8 million) will be deposited in the National Bank of Vanuatu (NBV) and the Vanuatu National Provident Fund, Radio Vanuatu reports.

The minister says the additional funds will enable NBV to resume loan services.

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