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Key financial institutions assure of support for Ukraine and readiness to speed up the process of its revival during the Conference in London
07.07.2017 | 08:14
INFORMATION AND COMMUNICATION DEPARTMENT OF THE SECRETARIAT OF THE CMU

The economy of Ukraine demonstrates sustainable growth, and the objective for international financial organizations - partners of the state – should be to help to accelerate this process. This opinion was expressed by representatives of the World Bank, the European Bank for Reconstruction and Development, the European Investment Bank, the Organization for European Cooperation and Development in Europe during the major international Ukraine Reform Conference. The Conference took place on July 6 in London and became one of the key events on the agenda of the visit of Prime Minister of Ukraine Volodymyr Groysman to the United Kingdom of Great Britain and Northern Ireland. The event was attended by over three dozens diplomats and members of international financial institutions and co-hosted by Prime Minister of Ukraine Volodymyr Groysman and Secretary of State of the United Kingdom for Foreign and Commonwealth Affairs Boris Johnson.

Thus, President of the European Bank for Reconstruction and Development Suma Chakrabarti stressed that Ukraine is paving the way of transformation. "We are now heading for stability and economic growth, we can see rapid reforms in the banking and energy sectors, in public procurement, corporate governance", noted the EBRD President. “What should be next? To remove economic barriers, return respect for property and curb corruption.” At the same time, he accentuated that a smart land reform and successful privatization will enable the country to attract investors and leverage significant funding into various sectors of the economy, and in particular in the agro-sphere.

In turn, Vice-President of the World Bank for Europe and Central Asia Cyril Muller emphasized the need for a well-balanced land reform. "However, there is another challenge: fighting poverty and improving living standards", said the World Bank representative, adding that the World Bank shares the Government's striving to modernize Ukraine's social assistance system.

Apart from that, representatives of the European Investment Bank, for which Ukraine is the largest operational country outside the EU with a project portfolio worth over EUR 3 billion, and the Organization for Economic Cooperation and Development spoke about economic development prospects. The EIB expressed their commitment to prolong supporting export-oriented enterprises and to develop projects of technological upgrading of Ukraine, of support for innovations and science. In turn, the OECD will cooperate in the areas of investment and creating business environment, anti-corruption policy, institutional development and the rule of law.

 

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