You're reading: Ukraine to intensify cooperation with World Bank

The strengthening of cooperation with the World Bank will be conducive to the effective implementation of reforms in Ukraine, according to First Vice Premier Valery Khoroshkovsky.

The Ukrainian official made this statement during a meeting with
World Bank Managing Director Sri Mulyani Indrawati in Washington on
Tuesday, Khoroshkovsky’s press service said.

During the meeting the sides focused on the implementation of investment and systematic projects of the World Bank in Ukraine.

According to the Ukrainian official, the successful implementation of
11 investment projects worth a total of $1.72 billion in loans will
allow Ukrainian beneficiary companies not only to modernize production
facilities, but also to employ advanced technologies.

The sides also discussed the preparation of systematic development
projects. The top priority of them should be Financial Rehabilitation
Development Policy Loan 2 ($350 million) and Development Policy Lending 4
($500 million).

According to Khoroshkovsky, taking into account progress in the
preparation of these projects, the Ukrainian side is ready to work with
the World Bank to take necessary steps to implement them in the near
future.

The sides also noted the significant potential of extending loans to
Ukraine from the viewpoint of World Bank’s possibilities to finance
projects worth $1 billion annually. In particular, they agreed to
intensify cooperation in the framework of the World Bank’s Country
Partnership Strategy for Ukraine for the fiscal years 2012-2016, and
further cooperation to enhance the effectiveness of the implementation
of the bank’s project portfolio.