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World Bank present new strategy of partnership with Ukraine

September 15, 2011, 23:59 UTC+3
The World Bank is pondering four projects that will be related to the modernization of the Ukrainian gas transportation system
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KIEV, September 15 (Itar-Tass) – World Bank’s Director for Ukraine, Belarus and Moldova, Martin Raiser, had a meeting with Prime Minister Nikolai Azarov here Thursday to present the Bank’s strategy for partnership with the Ukrainian government in the period of 2012 through to 2015.

The press service of the cabinet of ministers said the document spells out four priorities.

Raiser told Azarov the World Bank is pondering four projects that will be related to the improvement of automobile roads and enhancement of road safety, the financing of urban infrastructures development, the modernization of the Ukrainian gas transportation system, and improvements in the field of social security.

As regards the modernization of gas pipelines, the World Bank plans cooperation in these efforts with the European Bank for Reconstruction and Development and the European Investment Bank.

Raiser said the World Bank is ready to design a number of other projects together with the Ukrainian government.

Nikolai Azarov, on his part, stressed the importance of endorsement of the bank’s new strategy.

“It’s highly important for us to use this financial resource in the significant spheres,” he said, adding the government attaches priority to large-scale projects in infrastructure and energy saving.

“If you take medium-sized projects, we’re able to finance them on our own by pooling together our domestic loan resources,” Azarov said. “As for the WB fund facilities, these monies should be channeled to big projects.”

He indicated that the partnership strategy will be discussed at a session of the cabinet.

Beginning with 2007, the World Bank aimed its partnership strategy at support for the real sector of the economy, the steps towards energy saving, and infrastructure development.

 

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