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. 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.