International Monetary Fund
The Polish People's Republic ended its five-year quest for membership in the International Monetary Fund last week and is now eligible for loans from the agency.
Poland, which is burdened by $30 billion of debt, recently raised the required $680 million and signed the appropriate agreements, making the membership official.
The United States, the largest IMF member country, abstained from the vote to admit Poland because of uncertainty about its ability to meet requirements for the loans. Legislation requires that the United States oppose any loan to a communist country unless the country meets certain criteria, which include using the money to help a majority of its people.
Poland was on its way to membership more than five years ago, but the process was stalled when martial law was imposed in 1981.
The agency also named P. R. Narvekar of India as director of its Asian Department. Narvekar suceeded Tun Thin of Burma, who retired. Asian Development Bank
The 20-year-old Asian Development Bank needs support from the international capital markets if it is to continue effective lending to member nations, President Masao Fujioka said in a meeting with potential investors in London last week.
In 1985, the bank raised $3 billion (more than half of the $5.6 billion in outstanding borrowings for the year) in European currencies through Eurodollar or Euroyen issues. Also, more than $800 million (about one-fourth of the bank's capital resources investment) was denominated in 13 European currencies last year. Export-Import Bank
The Export-Import Bank approved guarantees for private loans to the government of Zimbabwe for the purchase of three Boeing 737-200 aircraft, a spokesman from the bank said.
The financing will assist Boeing Commercial Airplane Co., a subsidiary of Boeing Co., in completing a contract for $66 million for the aircraft and spare parts.