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World Bank experts prepare plan of Ukraine financial sector reform

The reform can be financed by means of a World Bank loan worth up to $1 billion

Stepan Kubiv ITAR-TASS/Maxim Nikitin

Stepan Kubiv

© ITAR-TASS/Maxim Nikitin

KIEV, March 31. /ITAR-TASS/. Chairman of the National Bank of Ukraine (NBU) Stepan Kubiv on Monday held the final meeting with a group of World Bank (WB) experts that worked in Ukraine in the period from March 24 to 28. The NBU press service reported that the experts with Aleksander Pankov in the head had worked in Kiev in order “to determine the priorities and activity guidelines for the Ukrainian financial sector reform that can be implemented with support of the World Bank.”

The WB experts during last week had prepared a plan of action to promote the Ukrainian financial sector reform, the NBU press service said. This programme can be financed by means of a WB loan worth up to one billion US dollars, granted within the programme of loans for development. “The action plan will allow the Ukrainian banking system to make a cardinal reconstruction and strengthen stability of the banking sector,” the NBU stresses.

Simultaneously with the WB expert group, a mission of the International Monetary Fund (IMF) was working in Ukraine. The IMF mission was co-ordinating the terms for granting a loan worth 14 - 18 billion US dollars.

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