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Russia Gets First World Bank Investment Since Crisis

The World Bank approved an investment in Russia for the first time since President Vladimir Putin annexed Crimea, overriding Canada’s opposition and a lack of support from the U.S. and parts of Europe.

The International Finance Corp., the lender’s private-sector arm, voted May 29 for parts of a 250 million euro ($340 million) package enabling French grocery retailer Groupe Auchan SA to expand in Russia, Vietnam and other emerging markets, World Bank spokeswoman Serene Jweied said yesterday in an e-mail.