Bureaucratic fights have severely restricted Moscow’s ability to use the assistance it has received, Kommersant-Daily reported June 6. Only $800 million of the $4 billion Russia has received from the World Bank has been spent, the paper noted. And as a result, Russia has been forced to pay fines for failing to use the money. To try to overcome these difficulties, the government has established a Federal Center of Project Financing which is supposed to oversee the disposition of all aid money.
Yeltsin Urges Europeans to Invest in Russian Energy Sector.