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. Last Updated: 07/27/2016

World Bank Loan

MOSCOW -- Russia is close to securing an additional $150 million loan from the World Bank to improve safety in its coal mining industry, a government minister said Friday.

Fuel and Energy Minister Sergei Kirienko said the loan will come in addition to an existing $800 million World Bank loan to restructure the coal industry, Russian news agencies reported. The bank released the first half of that credit in December.

Beginning April 1, coal mining companies won't be paid government subsidies unless they sign an agreement with the local and federal authorities on restructuring the industry, Kirienko said.