During their meeting, Mr Medvedev and Mr Zoellick discussed cooperation within the G20, preparations for the upcoming summit in Canada and subsequent one in Korea. In this regard the main priority is financial system reform, including of private financial institutions, and reform of international financial architecture, particularly the World Bank.
They also touched on this year's main theme: how to combine an exit strategy with the creation of incentives to increase private demand, as well as the issue of balancing global economic growth, particularly between developing and developed countries.
Meeting participants paid a great deal of attention to the Bank's projects in Russia, in particular the Bank’s participation in projects designed to increase energy efficiency and further the development of the North Caucasus. Presidential Plenipotentiary Envoy to the North Caucasus Federal District and Deputy Prime Minister Alexander Khloponin will be instructed to liaise with the World Bank on this issue.
Projects related to the development of Russia's financial system, including support for regional banks as well as co-financing by Russia and the World Bank of projects in third countries, for example in Central Asia and Moldova, were discussed. It is possible that the Eurasian Development Bank, Vnesheconombank and the World Bank cooperate on this account.
The allocation of IMF and World Bank quotas to developed and developing countries and possible expansion of Russia's participation in International Finance Corporation projects were among the subjects discussed.