08/06/1998 21:42:20 World Bank approves $1.5 billion Russia loan
WASHINGTON, Aug 6 (Reuters) - The World Bank on Thursday
approved a $1.5 billion loan for Russia, including an immediate
cash injection of $300 million, to speed the pace of reforms to
revive the battered economy.
The structural adjustment loan, which was backed by the
World Bank's board of directors, forms part of a $22.6 billion
package assembled by the International Monetary Fund last month
to bolster investor confidence.