MOSCOW, January 20 (RIA Novosti) - Russia is counting on cooperation with the World Bank during its presidency of the Group of Eight industrialized nations, the Russian vice premier said Friday.

Alexander Zhukov met Friday with Francois Bourguignon, the World Bank's Senior Vice President and Chief Economist. "We are hoping for close and effective cooperation on those issues, which will definitely come up during our presidency in G8," Zhukov said.

He said Russia was interested in continuing cooperation with the World Bank on global issues as well as on working out approaches to the social and economic development of Russia.

Zhukov said that Russia, in partnership with the World Bank was drafting proposals for a judicial reform program.

Bourguignon said in turn that he highly valued cooperation between Russia and the World Bank and, and that Russia's presidency of the G8 was "very important."