Wolfowitz said Russia's future at the time had appeared bleak, but that now the country has achieved considerable success.
However, the World Bank president said Russia still had to tackle problems such as corruption, the judicial system's transparency, administrative reform, health care, and education.
Wolfowitz, who visited several schools and clinics near Moscow Thursday, said the World Bank could help tackle some of the problems facing Russia.
Gref said they had discussed a series of programs Russia has been implementing in cooperation with the World Bank, including programs to fight AIDS and TB, on judicial reform, against corruption, and on open economic zones.
Gref said financial issues were not the main goals of cooperation between Russia and the WB.
"More importantly, the World Bank is a depository of unique global expertise, which we would like to make use of," he said.
