(RIA Novosti) - Russia will write off about $10 billion of the Iraqi debt in the near future, the finance minister said Sunday.
Alexei Kudrin said it was Russia's contribution to G8 joint efforts to ease Iraq's debt burden and support the development of the country's economy, reports Trend.
He also said Russia would allocate more than $150 million for donor programs in 2006.
"The role of writing off debts is a passive aspect of participation in world donor programs," Kudrin said. "Russia is taking more proactive measures and is making a number of decisions to increase its donor programs significantly."