World Bank

* The World Bank last week approved $10 million for a Ghanaian road rehabilitation project in the first credit from its recently established special fund for sub-Saharan Africa.

Ghana, which has "one of the most far-reaching economic reform programs" of the sub-Saharan countries, will use the loan to meet foreign exchange costs in a badly needed road refurbishing project, the bank said.

In June, the International Development Association, the World Bank's concessionary lending affiliate, which administers the African fund, approved a $40 million loan for the same project.

The African fund, called the Special Facility for Sub-Saharan Africa, was formed to alleviate economic woes in the region over the next three years. With pledges of $1.25 billion, the fund became effective July 1.

* A World Bank committee has drafted a charter establishing a loan guarantee affiliate of the bank originally proposed by President A. W. Clausen in 1981.

Under the proposal, the Multilateral Investment Guarantee Agency would issue loan guarantees against non-commercial risks and would provide promotional and technical assistance "to improve investment conditions," the bank said.

According to Ibrahim Shihata, World Bank vice president and general counsel who chaired the committee, "it is for the bank's executive directors to decide on the next step." Pending approval by the executive directors, the charter will be submitted to the bank's board of governors at its annual meeting in Seoul in October.

* The International Finance Corp., the World Bank affiliate for private-sector financing, has approved an $8.4 million loan to help finance a citrus fruit production operation in northern Uruguay.

The $36 million program is designed to bring Azucitrus, a Uruguayan concern, to full capacity, producing citrus fruits, mainly oranges, to be sold fresh, as well as frozen concentrated juices and essential oils.