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The Russian leader said Moscow was interested in the World Bank’s regional development loans.

President Putin said Russia had been a World Bank shareholder since 1992, and that the quality of bilateral relations had changed greatly due to national economic growth.

The situation has largely improved due to cooperation with the World Bank, which approved 53 credit projects worth $13.4 billion in Russia, including several aiming to restructure the coal industry, as well as social projects and medical programmes in some regions.

President Putin said Russia would continue to aid the poorest countries on an increasing scale and within the format of numerous World Bank initiatives. Currently, Russia’s contribution to the initiatives to ease the poorest countries’ debt was the largest in relation to national GDPs.

The Russian leader positively assessed the work of the joint Russia – World Bank group.

President Putin presented the Order of Friendship to World Bank president James Wolfensohn for his outstanding contribution to strengthening international cooperation.

Julian Schweiger, permanent representative of the World Bank in Russia, also took part in the talks.