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. Last Updated: 07/27/2016

Summit May Offer Aid

Encouraged by Russia's improving economy, U.S. officials said they hope to use the upcoming summit between President Boris Yeltsin and President Bill Clinton as a springboard for increased American investment in Russia.


The two presidents are scheduled to meet in Washington on Sept. 27 and 28. Barring unforeseen developments, the political and economic situation in Russia will be calmer than at any of their previous four meetings.


U.S. officials who traveled to Moscow to lay the groundwork for the summit told reporters Saturday that a main focus will be an increased emphasis on private trade and investment.


As part of that, Yeltsin will meet with U.S. trade officials and Washington is expected to announce what was described as a modest but significant increase in support for private investment in Russia.


All told, according to administration officials who declined to be named, the United States plans to spend nearly half a billion dollars in the next three years on private investment and economic restructuring programs, which should provide a stimulus worth "hundreds of millions, or billions" of dollars for Russia, a senior official said.


"We are encouraged by the signs of stabilization and vigor in the Russian economy," the official said.


Another prominent item on the agenda, they acknowledged, was the two countries' conflicting policies on Bosnia.