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Russia: World Bank To Consider Loans Today

Washington, 5 June 1997 (RFE/RL) - The World Bank's board of directors is due today to consider six loans for Russia worth some $884 million.

The loans include $600 million for structural adjustments in the country's reform program; $85 million for an enterprise restructuring project; $71 million to improve higher education; $66 million for a health care project; $40 million to reform the electric power industry; and some $22 million to improve the government's economic analysis.

The loans are part of what World Bank President James Wolfensohn said in April would be an expected lending to Russia of up to $3 billion per year over the next two years.

Earlier this week, the World Bank annouced that agreement had been reached on a program to repay pension arears and restructure Russia's entire social welfare system. The bank's board of directors is expected to approve an $800 million loan to support the program later this month.