Russian Federation: Judicial Reform Support Project (JRSP)

WASHINGTON, February 15, 2007 - The following project was approved today by the World Bank’s Board of Executive Directors:

IBRD LOAN: US$50 million

TERMS: Grace period = 5 years; Maturity = 15 years

PROJECT DESCRIPTION: The JRSP will contribute to improving governance and the rule of law by increasing transparency and efficiency within the judiciary. It will also help foster a better business environment conducive to private sector growth by improving the efficiency and predictability of the arbitration court system. The five-year project has a total cost of US$172.41 million, of which US$50 million will be financed by the IBRD, and US$122.41 million will be counterpart financing provided by the Russian Federation.

For project details, please callSteven Jouy at (202) 473 4215 or email
sjouy@worldbank.org

For more project information, please visit:

http://web.worldbank.org/external/projects/main?pagePK=64283627&piPK=73230&theSitePK=40941&menuPK=228424&Projectid=P089733