RUSSIA NEGOTIATES $1 BILLION CREDIT WITH WORLD BANK.

World Bank president James Wolfensohn, who is presently visiting Moscow, announced May 23 that the World Bank will lend Russia over $1 billion to overhaul its coal-mining industry ($530 million) and reform its agricultural sector ($500 million). Wolfensohn said the loan would not be affected by the outcome of next month’s presidential elections. "Whatever the government is in Russia, we are going to do what we can to help the Russian people," he said, adding that World Bank loans to Russia would top $6.5 billion by the end of the year, making Russia the World Bank’s largest borrower. (AP, May 24)

Yeltsin to Veto Land Code.