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World Bank Vice President Philippe Le Houérou Visits Ukraine, Introduces New Country Director

March 5, 2012

Kyiv, March 5, 2012 — World Bank Vice President for the Europe and Central Asia Region Mr. Philippe Le Houérou will visit Ukraine on March 5-6 to introduce Mr. Qimiao Fan, the new World Bank Director for Ukraine, Belarus, and Moldova to the Government and development partners. In his new position, Mr. Fan will oversee the Bank’s program in the three countries and head the Bank’s country team with a focus on results, quality, and efficiency.  Mr. Fan will lead the policy dialogue with the Government counterparts, civil society, and other partners.

During his meetings with the President of Ukraine, the Prime Minister, the Head of the National Bank, other Government officials, and representatives of the donor community, Mr. Le Houérou will also discuss the priorities for Ukraine's economic and social development in the coming years, the importance of implementing the reform agenda, and the issues of cooperation between the World Bank and Ukraine.

“The new World Bank Country Partnership Strategy for Ukraine for 2012-2016, which was recently discussed by our Board, builds on 20 years of cooperation between Ukraine and the World Bank,” said Mr. Le Houérou. “The strategy aims to demonstrate how open public dialogue on reform formulation, accountability in implementation of the policies, and transparency in the monitoring of their impact can yield better development results. Our financing will depend on significant and consistent progress by the country in tackling governance issues and implementing the reforms.”

The new CPS focuses on (i) improving the business environment, for both domestic and foreign investors; (ii) improving physical infrastructure to reduce the cost of doing business; and (iii) creating an appropriate policy framework and attracting private investment in agriculture to allow Ukraine to benefit from high international demand for food and agricultural commodities.

The new World Bank Strategy will also support the authorities in improving relations with the civil society and the business community, turning low levels of trust into support for reforms, and making the Government both more accountable and more effective. The willingness and determination of the authorities at all levels will be critical to the success of this ambitious reform agenda. The World Bank Group will adjust its policy dialogue, lending, and technical assistance to respond to the Government’s demonstrated commitment.

Since Ukraine joined the World Bank in 1992, commitments to the country total over US$ 7 billion for 39 operations. IFC has committed a total of US$ 1.657 billion in 63 projects and raised an additional US$ 632 million through syndications. The Multilateral Investment Guarantee Agency (MIGA) has supported 15 projects in Ukraine. In 2011, MIGA’s outstanding gross exposure in Ukraine stood at US$ 999.1 million, making it the country with the largest outstanding exposure in MIGA’s portfolio.

Media Contacts
In Kyiv
Victor Zablotskyi
Tel : (380 44) 490-6671
In Washington
Elena Karaban
Tel : (202) 473-9277