You're reading: World Bank ready to support reform of gas and heat tariffs in Ukraine

The World Bank is ready to finance a reform of gas and heating tariffs in Ukraine, reads a report of the bank

"The World Bank understands the importance and urgency of addressing the gas pricing and energy efficiency issues in Ukraine and we stand ready to support the government in implementing a comprehensive reform program… The bank is ready to support a project in the energy efficiency sector dealing with district heating and social assistance programs that would help poor households to cushion the impact of higher tariffs, if the authorities are ready to move forward with tariff reforms," reads the report.

The report says that this program needs to start with tariff reforms, supported by a targeted social assistance program for the poor and vulnerable and a series of measures to improve energy efficiency.

"There is no difference in views between the Bank and the IMF [International Monetary Fund] on this issue," reads the report.