Russia not seeking new World Bank loans - Kudrin

The Russian government is not now seeking any new loan money form the World Bank and is wrapping up existing projects, Finance Minister Alexei Kudrin said during the 2005 federal budget bill's third reading at the State Duma. "We are not clinching new loans and are wrapping up old ones," Kudrin said. Kudrin was responding to Duma deputy Oksana Dmitrieva's proposed amendment to the budget bill removing from the budget a World Bank loan for the development of the system of state real estate accounting and real estate rights registration. That loan is $120 million, and $2 million is supposed to be used in 2005. This loan already exists; its use has begun and it has to be wrapped up, Kudrin said. On the other hand, the passage of the Tax Code's new land tax chapter requires the completion of land survey appraisal in all regions. The amendment was defeated.