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World Bank adopts first investment project in Russia after Crimea re-unification

June 04, 2014, 20:31 UTC+3 MOSCOW
International financial corporation voted to transfer $340 million to French retailer Auchan for the development of its network in Russia
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© EPA/MATTHEW CAVANAUGH

MOSCOW, June 04. /ITAR-TASS/. The World Bank has adopted the first investment project in Russia after the re-unification of Crimea in spite of Canada’s disagreement and the absence of the US support.

Back on May 29, the World Bank’s international financial corporation voted to transfer $340 million to French retailer Auchan for the development of its network in Russia, Vietnam and some other developing countries, a World Bank official told Bloomberg.

The decision provoked disputes in the World Bank. “Canada took a principled position and voted the project down, as we do not support those projects which may be profitable for Russia. Russia should keep out of the affairs of a sovereign state,” Canada’s official said.

The United States and three more members of the World Bank’s board refrained from the voting, a board member told Bloomberg on the condition of anonymity.

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