Get the latest updates as we post them — right on your browser

. Last Updated: 07/27/2016

Russia Approves Loan

MOSCOW -- The Russian government has approved an agreement with the World Bank, signed last October, on a loan to finance a project for assistance in restructuring of the state enterprises.

The Cabinet issued a resolution signed by Prime Minister Sergei Kiriyenko, instructing the Finance Ministry to allocate funds for the servicing and repayment of the World Bank's $85 million loan. The Cabinet also made an amendment to a government resolution that the servicing and repayment of part of the loan intended for consulting services will be financed by enterprises involved in the project.