Kyiv, June 17, 2011 - World Bank Vice President Philippe Le Houérou is visiting Ukraine June 16-17 for meetings with President Yanukovych, Prime Minister Azarov and other high ranking officials, as well representatives of the civil society. The visit takes place against the background of concern regarding the poor business climate in the country and persistent corruption. Vice President Philippe Le Houérou emphasized in his meetings the need for progress in reform.
"Plans need to be followed by actions," - Philippe Le Houérou said. "President Yanukovych reassured me of his commitment to fight corruption and to see progress in the implementation of his 2010-2014 Economic Reform Program. The World Bank stands ready to support these efforts but the scope of our assistance will very much depend on the actions the authorities take."
As reported earlier, President Yanukovych asked the World Bank to continue to work on the two budget support operations to assist the rehabilitation of the financial sector and the implementation of pension reform and other critical fiscal and structural measures. Vice President Philippe Le Houérou informed the authorities that continued World Bank support depends critically on progress in improving economic governance. President Yanukovych explained key policy measures planned to reduce corruption risks, including putting in place a legal framework for public procurement corresponding to international best practice, eliminating the problem with VAT refund arrears, abstaining from quotas and other non-market interventions in the agricultural sector and pushing ahead with deregulation. The two sides agreed to continue discussions on measures to improve economic governance in Ukraine.