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With the clock ticking on the end-of-June deadline for a final agreement, the world’s major industrialized countries appear to be nearing a compromise on fresh funding for the International Development Association.

According to international financial sources, Japan, the United States and major European countries are no longer digging in their heels in the dispute over whether to replace some of the concessional IDA loans with grants, a major sticking point in the negotiations on the 13th replenishment of IDA resources.

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