Publication: Monitor Volume: 3 Issue: 74

The World Bank is to lend Russia $6 billion over the coming two years. The loan, which follows an IMF pledge to restart the stalled monthly tranches of its $10.1 billion extended Fund facility to Russia, is a sign of growing international confidence that, under its new government, Russia is returning to the reform path. Two-thirds of the World Bank money will be used to alleviate social distress caused by the transition, including payment of wage and pensions arrears and the restructuring of the coal industry, while one-third will finance investment projects. (Itar-Tass, April 14; Financial Times, April 15)

Russian Officer Charged with Treason Wins Environmental Prize.