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Business climate improves in Russia — World Bank

October 09, 2014, 10:41 UTC+3 WASHINGTON
However, the process of improving business climate is currently impeded by external factors, first of all by the Western sanctions against Moscow over the Ukrainian conflict, the WB says
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The World Bank headquarters in Washington DC, US

The World Bank headquarters in Washington DC, US

© ITAR-TASS/EPA/MATTHEW CAVANAUGH

WASHINGTON, October 9. /TASS/. The World Bank (WB) has noted improvement in the Russian business climate, World Bank Country Director for Russia Michal Rutkowski told TASS on Wednesday. According to WB, this process is currently impeded by external factors, first of all by the Western sanctions against Moscow over the Ukrainian conflict.

In general, the coordinated efforts of Russia’s various ministries and departments for the improvement of the business climate and strengthening Russia’s positions in the WB doing business rating make a good impression on WB, Rutkowski told TASS on the sidelines of the annual meeting of the WB and IMF (International Monetary Fund) governing bodies in the US capital.

He added that speaking of successes, he first of all referred to the “roadmaps” created by the Russian Economic Development Ministry jointly with the Agency for Strategic Initiatives. In essence, they have become a program for the government that specifies what should be improved and how quickly, the WB official said.

Asked about the progress of WB projects’ implementation in Russia and what the WB plans for the future are, Rutkowski said there are a number of projects at the early stage of preparation. They have not been changed and WB is working on them in the normal mode, he said. There are also four-five projects that are about to be put forward for discussion by the WB Board of Directors, he added. They should be submitted at the right moment when there is the possibility of their unimpeded approval, he said.

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