The Russian head of state assured Mr Wolfensohn that Russia would honour its loan obligations and thanked him for adopting a new strategy for Russia in 2003–2005. This year Russia was to transfer $1.2 billion to the bank’s account, and another $2.2 billion in 2003.
Russia began cooperating with the World Bank in 1992, and many joint projects have been implemented in recent years. In all, the World Bank granted Russia over 50 loans totalling $12 billion.
See also
Opening Remarks at a Meeting with World Bank President James Wolfensohn
November 14, 2002