*Executive directors of the World Bank have decided to allocate $837 million of its record $1.1 billion profit for fiscal 1985 to the bank's general reserve.
Additionally, the directors recommended to the bank's Board of Governors that $150 million be allocated each to the Special Facility for Sub-Saharan Africa and the International Development Association (IDA). The Africa Facility, recently established to support economic policy reforms in the region, has pledges totaling $1.25 billion, including the recommended $150 million from this year's profit. The IDA, the concessionary lending affiliate of the World Bank, would use the $150 million grant in the poorest of the developing countries.
The World Bank reported the highest profits in its 40-year history largely as a result of low borrowing costs and the high rates of return on the bank's liquid assets portfolio.
*The World Bank has approved a $36.5 million loan to Colombia to begin a project to improve the health of 3.7 million people who currently lack access to basic health care. The six-year project will expand primary health-care services to children under five years old and women of childbearing age.
The $75.8 million project also will be supported by government funding, suppliers' credits, financing from the Social Security Institute of Colombia and user fees.
*The World Bank recently announced two borrowings on international markets.
The bank made its first U.S. dollar borrowing in Tokyo markets, offering $300 million in 10.5 percent 10-year notes due Aug. 15, 1995. The issue, which is not callable, was offered at par value with a semiannual equivalent yield of 10.24 percent.
Separately, the bank offered publicly a 300 million Swiss franc ($127.1 million) bond issue in two tranches. The first tranche, maturing Aug. 23, 1995, consists of 5.63 percent 10-year bonds, with a semiannual equivalent yield of 5.55 percent. The second, to mature Aug. 23, 2005, is in 6 percent 25-year bonds. The yield, on a semiannual equivalent basis, is 5.91 percent.