Russia to allocate $60 million to foster education in the poorest nations

September 16

Russia will allocate $60 million to foster education in the poorest countries, Russian Finance Minister Alexei Kudrin told reporters after the G8 finance ministers' meeting.

"While we are taking into account the lack of teachers, textbooks and other items, the initiative highlights the quality of education," he said.

The minister said that under this initiative, offered by Russia as part of its 2006 G8 presidency, a Moscow-Africa network of centers for monitoring primary education would be set up this year, a project which has already cost Russia $7.2 million.

Kudrin highlighted that Russia was providing full financial support to its initiatives on infectious diseases and vaccines and all other efforts it had committed itself to as the G8's presiding nation.