Ukraine to intensify cooperation with World Bank
2012-08-01 10:41:51
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.