Iran resumes payments to World Bank on closed loans

Effective on Friday, the International Bank for Reconstruction and Development (IBRD) under the World Bank Group (WBG) has moved all loans to the Islamic Republic of Iran from non-performing status to performing status following the payment of all overdue amounts on these loans, the WBG announced in the same day. The effect of this action will increase IBRD's income in the 2014 fiscal year starting July 1 by approximately 31 million US dollars. As of Friday, the remaining principal amount outstanding on IBRD loans to Iran is approximately 616 million dollars, or 0.4 percent of IBRD's total outstanding loans, the WBG said in a statement. The Bank currently does not have a program for Iran and all projects referenced above are closed. IBRD complies with UN sanctions and international sanctions and is consistent with US laws and regulations concerning Iran, noted the statement. While addressing a White House press conference Friday, US President Barack Obama announced that he has just spoken directly with his Iranian counterpart Hassan Rouhani by phone regarding nuclear program. This was the first talk between the two countries ' presidents for more than 30 years.