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Ukraine will invite IMF, World Bank to take part in stabilization fund

18 November 2008, 16:21
Ukraine will invite IMF, World Bank to take part in stabilization fund
Oleksandr Shlapak, Presidential
Secretariat First Deputy Head
Presidential Secretariat First Deputy Head Oleksandr Shlapak has said Ukraine will invite the International Monetary Fund and the World Bank to take part in the Ukrainian stabilization fund being created to tackle effects of the world financial crisis in the country.

Shlapak said this at a briefing.

"We will invite the World Bank and the International Monetary Fund to participate in the stabilization fund. Nevertheless, we should rely on ourselves first and foremost," Shlapak said.

According to Secretariat First Deputy Head Shlapak, President Viktor Yuschenko has instructed the Cabinet of Ministers to transfer UAH 50 billion to the stabilization fund in 2009, including UAH 10 billion in the first quarter of 2009.

Shlapak said the preparations for the Euro 2012 European football championship finals should be funded from the national resources too.

Ukrainian banks with support from the National Bank of Ukraine, according to the Presidential Secretariat, must secure crediting of projects in the energy sector, the construction sector, the transport sector, and the mortgage loans.

As Ukrainian News reported, President Yuschenko signed presidential decree No.1046/2008 on November 17 instructing the Cabinet of Ministers to transfer UAH 50 billion to the stabilization fund in 2009 to tackle the financial crisis in Ukraine.

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