08:22 GMT +322 October 2016
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    NOVO-OGARYOVO, January 20 (RIA Novosti) - A meeting between President of Russia Vladimir Putin and World Bank president James Wolfensohn was held in Novo-Ogaryovo, a residence of the Russian head of state in the Moscow suburbia.

    Taking part in the meeting were Julian Sweitzer, a World Bank representative in Russia; Alexei Kudrin, Deputy Prime Minister and Finance Minister of the Russian cabinet; Igor Shuvalov, deputy presidential chief of staff; and Alexei Kvasov, executive director from Russia at the World Bank.

    Experts note that meetings between Putin and Wolfensohn have long become regular. The World Bank president often confirmed interest in promoting cooperation with Russia and preparedness to assist the Russian Government in implementing its economic program.

    Meanwhile, Moscow would like the Russian direction to remain a priority in World Bank activities.

    "We regard our cooperation as an important auxiliary mechanism of assistance in reforming our national economy and speeding up structural transformations," a source in Moscow told RIA Novosti.

    Though the situation in Russia has improved considerably, the country still needs the World Bank's assistance, the source said. At the same time, he went on, this assistance does not change in essence - "it is the next stage of the reforms."

    The most important areas of interaction with the World Bank for Moscow are further improvement of state administration and the judicial reform, improvement of conditions for business operation and development of competition, continued reforms in education, healthcare and housing and communal services.

    Apart from that, Russia and the World Bank actively cooperate in improving the banking institutions, financial markets, the banking sector and in developing small and middle business.

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