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. Last Updated: 07/27/2016

Russia's Clean-Up Loan

WASHINGTON () -- The World Bank approved a $110 million loan to Russia on Tuesday, part of which may be used to clean the massive oil spill in that country's remote Arctic region, a bank official said.

The bank approved its first environment-focused loan to Russia to "attempt to begin to reverse 70 years of fragmented and uncoordinated environmental management," the global lending organization said in a statement.