KAZAN, August 6 (RIA Novosti, Irina Durnitsyna) - Kazan will get the first $50 million as part of the World Bank credit in the near future, Russian Finance Minister Alexei Kudrin said Saturday.
"This is a part of our joint program of preparations for the 1000th anniversary [of Kazan, the capital of Tatarstan]," he said adding that there would be more programs on development of this Volga republic and its capital.
The World Bank made a decision to grant the 17-year $125 million credit on the city's development in February. The bank said that it wanted to help Kazan authorities form a solid financial basis for the stable development of the city's economy, improve the city property management and communal services and strengthen the social protection system.
Kazan will receive the remaining $75 billion in the beginning of 2006.
