The World Bank is negotiating with the Finance Ministry of Ukraine on initiating a new program of guarantees for state borrowings, World Bank Country Director for Belarus, Moldova and Ukraine Satu Kahkonen has said.
She told Interfax-Ukraine during a conference at the American Chamber of Commerce in Kyiv the bank was currently negotiating with the government about the new Policy-Based Guarantee (PBG) program to support reforms in the country.
According to the banker, progress in the negotiations will depend on the progress of reforms. At the same time, the World Bank will be ready to discuss such a program with the new government if the necessary reforms are not implemented within the term of the current government, she said.
In general, she expects the new program to be approved by the end of this year.
As reported, the World Bank Board of Executive Directors on Dec. 18, 2018 approved the provision of guarantees to Ukraine in the amount of $750 million in support of state policy.
This guarantee will help Ukraine attract about $1 billion to the national budget in international markets.
