Russia’s government has taken a decision to take a 25 million dollar loan from the International Bank for Reconstruction and Development to boost financial literacy among the population and promote financial education in the country.

Prime Minister Vladimir Putin signed the relevant decree on Thursday.

The government plans to take the loan for 14 years with a five-year grace period.

The loan will be serviced and paid through budget assignments of the federal budget, the Prime-Tass business news agency said.