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. Last Updated: 07/27/2016

Russia Receives Loan




MOSCOW -- Russia has received a $250 million loan installment from the World Bank as part of an $800 million credit for social welfare reforms, Deputy Prime Minister Oleg Sysuyev said.


Sysuyev was quoted by Itar-Tass as saying the installment had been due earlier, but the bank had made its disbursement conditional on the government fulfilling several conditions, including adopting a new pension-reform strategy The rest of the loan will be disbursed in the first half of this year.


The government is seeking a $750-million loan from the World Bank for education reforms, and plans to seek a similar sum from the bank next year for health care reforms, Sysuyev said.


In the first half of this year, the World Bank will release "special small" loans of $25 million, $35 million and $40 million for pilot projects on reform of the Russian education system, he said.


Last month, the bank also approved an $800 million second structural adjustment loan and a second coal-sector loan for the same amount.