World Bank sees rise in loans to Russia

Mar 25, 1997 01:00 AM

Mar. 5, 1997 The World Bank expects its loans to Russia to increase substantially for the next few years. "We expect that if everything goes well, we can commit additional loans of the order of $ 2-3 bn a year," said Johannes Linn, vice-president, Europe and Central Asia. "In principle, a doubling of loans outstanding by the end of the century is not impossible," he said.
The World Bank has so far committed $ 6.2 bn to Russia, of which $ 2.7 bn has been disbursed, he said. Disbursements are running at a monthly rate of $ 70 mm, up from $ 25 mm a year ago. World Bank Moscow representative Michael Carter said the next loans in the works would fund a bureau for economic analysis to improve economic policy-making and higher education and school textbooks, and that work on a Structural Adjustment Loan would be completed in the next few months.

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