* The World Bank has approved a $300 million loan to Mexico to modernize its railway network.
The loan will be used to help finance a $2.35 billion government investment program aimed at completing the double tracking and electrification of the Mexico City-Irapuato line; completing a new line between Guadalajara and Monterrey; completing realignment of the Mexico City-Lazaro Cardenas lines; and regrading and realigning other major lines.
* The World Bank has approved two loans totaling $271 million to support Indonesia's transmigration program and national ports development.
The transmigration project is expected to provide a new start for 300,000 families, including many from the crowded areas of Java and Bali, by improving the quality of sites selected for settlement by transmigrants. The four-year project is expected to cost $275.3 million, with $160 million from the World Bank and $115.3 million from the government.
A second loan of $111 million will help improve port operations and management in the southern half of Sumatra, West Kalimantan and West Java. The six-year project is expected to cost $186.5 million, with funding of $75.5 million from the government.
* The International Finance Corp., the affiliate of the World Bank for investment in the private sector of developing countries, has approved a new type of investment to help finance small- and medium-size South Korean companies with high growth and profitability potential.
The IFC will provide a $5 million "equity line" through the Korean Develoment Investment Corp., the country's first local venture capital company.
KDIC will manage the IFC capital as it does its own, investing in and advising local businesses -- especially technology-intensive ventures -- with good potential for growth.
IFC's investment, which will be used for direct investments in common and preferred shares and indirect investments through KDIC in convertible debentures, is expected to assist about 40 firms over the next few years.