* The World Bank has cut its interest rate on loans to developing countries to 8.82 percent from 9.29 percent until the end of the year.
Under its policy of variable rates adopted in July 1982, the World Bank calculates the interest rate by adding a spread of 0.5 percent to the average cost of borrowing during the most recent six months. This is the sixth consecutive reduction since the bank adopted the variable-rate policy, when the interest rate was 11.43 percent.
*The World Bank announced last week a public offering in the French domestic market of a French franc bond issue. This was one of five issues announced last week and totaling about $1.06 billion.
The French franc bond issue, to be offered by a syndicate of the principal French banks and French subsidiaries of international banks, amounts to one billion French francs ($107 million). The bonds will be dated July 22, 1985, with a maturity date of July 22, 1997. They will carry an annual coupon of 10.9 percent, payable annually, and an issue price of 99.67 percent. The yield will be 10.67 percent on a semi-annual basis.
Other offerings on international markets include: a $201.15 million Japanese yen bond issue; $250.7 million in Swiss franc notes; a $197 million German mark bond issue, and a Eurodollar borrowing of $300 million in ten-year notes.
*The International Finance Corp., the World Bank affiliate for lending in the private sector of developing countries, has approved a loan of $11 million to a major Yugoslavian enterprise to assist with seven export expansion projects.
SOUR Energoinvest, the country's fourth largest enterprise and biggest exporter, will launch two-year projects intended to improve the production of medium voltage circuit breakers, compressors, spark plugs, measuring devices, relays and switches, modular protection systems and automation devices. The total cost of the projects is expected to be about $56 million. IFC's $2.5 million and 28.5 million German marks will finance the foreign exchange component of the package.