The World Bank is planning to open a second Russian office on Russky Island in Vladivostok in the Far East.

As part of the move, Alexander Kostenko, first deputy governor of the Primorye region, has signed a memorandum of understanding with World Bank officials.

Michal Rutkowski chief World Bank Russia said: "The Far East has promising connections with the Asia-Pacific region, and this potential should be utilized."

Rutkowski added that until now Vladivostok has been off the World Bank’s menu due to the bank’s policy of housing representative offices in a country’s capital city.

Additionally, Kostenko is seeking support of the local government to set up the new office.

Rutkowski said that the bank is considering establishing a small office in the Primorye region, which is almost 6,500 kilometers east of Moscow as the crow flies.

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