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WASHINGTON, February 17 (Itar-Tass) —— The World Bank said on Thursday it is launching a new Country Partnership Strategy (CPS) for Ukraine covering the period of 2012-2016. The Strategy proposes an investment lending program in the range of US$500 million per annum. The International Finance Corporation (IFC) is expected to lend additional funds of up to US$ 400 million annually. The CPS also includes analytical and advisory services, and technical assistance.
The funds will go to improve public services and public finances as well as the business climate in order to unlock Ukraine’s economic potential.
“The CPS will support the President’s Economic Reform Program for 2010-2014,” said Qimiao Fan, Country Director for Ukraine, Belarus, and Moldova. “This Program sets an ambitious reform agenda to improve Ukraine’s global competitiveness and meet the expectations of the Ukrainian people. The new strategy aims to assist Ukraine in overcoming implementation bottlenecks that have affected successive reform programs in the past, by strengthening institutions, improving public governance, and supporting a more participatory reform process.”