Premier of the Russian Federation Mikhail Kasyanov approved a proposal of the Finance Ministry of the Russian Federation, coordinated with the Economic Development and Trade Ministry and the Foreign Ministry. According to it, Russia will hold negotiations with the International Bank for Reconstruction and Development on the allocation of a loan worth around $120m to develop budget federalism and reform regional finances. The Russian delegation will be headed by First Deputy Finance Minister Alexey Ukyukayev. He was commissioned to establish a delegation with representatives of all interested federal executive institutions involved in it. Deputy Premier Viktor Khristenko was commissioned to approve instructions for the Russian delegation submitted by the Finance Ministry and the Economic Development and Trade Ministry. The Finance Ministry is supposed to submit all documents to the government after the negotiations, the Department for the Government Information reported to RosBusinessConsulting.