Kudrin: Russia is poised to put forward its own proposals on capitalizing the International Development Association
Moscow, February, 9th. /PRIME-TASS/. Russia is poised to put forward its own proposals of the mechanisms of capitalization of the International Development Association, Alexei Kudrin, the Finance Minister of the Russian Federation said at a press conference on Thursday. In the run-up to the meeting of G8 Finance Ministers on Saturday, he said that the G8 countries “will certainly discuss the initiative adopted in Gleneagles on the writing-off of debts owed by the world’s poorest countries”.

He noted that in Russia’s 2006 budget, the writing-off of about $688m to 16 poorest countries was provided. “We shall be guided by the experience of the G8 countries, which write off the debts and ensure that the money are directed for solution of the problems, including in the spheres of education and public health services”, Alexei Kudrin said.

The Minister also said that at the forthcoming Finance Ministers’ meeting the situation in the world energy markets, their transparency, and the development of alternative energy sources would be discussed. “The energy sources diversification is the most urgent topic of the today’s international agenda”, he noted.