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World Bank: Russia Faces 'Huge Challenges'

Paul Wolfowitz (file photo) 19 October 2005 -- World Bank President Paul Wolfowitz said in Moscow today that Russia still faces "huge challenges" in key areas such as anticorruption and judicial reform.

He said after meeting Russian Economic Development and Trade Minister German Gref that Russia is doing much better now, but that there are huge challenges especially in the area of administrative reform, judicial reform, and condemning corruption.

Wolfowitz, who visited schools and hospitals in the Moscow region during his visit, also listed health and education as areas needing major improvement.

Gref said Russia will continue working with the World Bank, an international creditor specialized in development projects, on fighting corruption.