You're reading: Yatsenyuk orders checks on efficiency of state companies’ using foreign funds

Ukrainian Prime Minister Arseniy Yatsenyuk has instructed the Ministry of Finance to check the efficient use of credit lines provided by international financial institutions by ministries and state-run enterprises.

“The protocol decision: on the disciplinary responsibility for the use of funds from international financial institutions. Carry out an investigation in all ministries, which will delay the use of funds, and create conditions for economic growth,” Yatsenyuk said at a Finance Ministry meeting.

Yatseniuk gave his instructing after Deputy Minister of Finance Artem Shevalev announced data on the insufficient usage of loans from international financial institutions by enterprises. According to him, in 2015, $832 million was supposed to be used, while in the first half of 2015 only $137 million was used.

Shevalev said only 20 percent of the funds were used, and by the end of this year Ukraine will not have time to use the entire amount. In particular, according to the deputy minister, companies such as Ukrenergo, Ukrhydroenergo, Energoatom and Ukravtodor delay using loan funds.