6 NATIONS HIT BY WAR
IN GULF TO GET BANK AIDMANILA, Philippines - The Asian Development Bank plans to provide special assistance to six countries hit particularly hard by the Persian Gulf war, the Manila-based bank announced Thursday.
An ADB study tentatively has identified Bangladesh, India, Nepal, Pakistan, the Philippines and Sri Lanka as its member countries most affected by the gulf crisis and in need of special assistance because of sharp increases in budgetary and foreign exchange constraints, an ADB statement said.
The study has determined that these countries "require immediate external assistance to prevent prolonged downturns in their economies and to assist them in adjusting to the new external circumstances," it added.
PROPOSED FOR MIDEAST
WASHINGTON - Secretary of State James Baker Thursday proposed establishing a Middle East bank for reconstruction to help repair the damage caused by the Gulf War.
Speaking to the Senate Foreign Relations Committee, Mr. Baker said the bank could be established along similar lines to that of the bank founded last year to help Eastern European countries recover from the ravages of communism.
''Efforts to secure peace in this region I think warrant a spirit of multilateral commitment to reconstruction and development," Mr. Baker said.