Kyiv, June 3, 2016 - Cyril Muller, World Bank Regional Vice President for Europe and Central Asia, concluded his first official visit to Ukraine today.
During the visit, Vice President Muller met with Prime Minister Volodymyr Groysman, Deputy Prime Minister and Minister of Economic Development Stepan Kubiv, Finance Minister Oleksandr Danyliuk, and Governor of the National Bank of Ukraine Valeria Gontareva to discuss Ukraine’s challenges, the World Bank’s record investment and assistance program in the country, and the importance of accelerating the implementation of ongoing World Bank-funded investment projects.
He also met with representatives from the business community, international financial institutions, civil society, investors, and diplomats.
In the last two years, the World Bank Group has provided a total of US$4.7 billion in budget support, investments, and private sector financing to Ukraine, including US$4.435 billion from the International Bank for Reconstruction and Development (IBRD) and US$250 million from the International Finance Corporation (IFC), the Bank’s private sector arm.
“The World Bank is Ukraine’s long-term development partner and we are committed to continue supporting Ukraine and its people to help them achieve the country’s economic potential,” said Muller during the visit. “We look forward to continue working closely with the government and other key stakeholders in critical areas such as the financial, fiscal, energy, social protection and other sectors for the benefit of the people of Ukraine,” he concluded.
The World Bank’s current investment project portfolio in Ukraine amounts to some US$3.1 billion (of which about US$2.1 billion is undisbursed) through 10 projects. Most of these investments support improving basic public services that directly benefit ordinary people in areas such as water supply, sanitation, heating, energy, roads, social protection, and health, as well as private sector development. Since Ukraine joined the World Bank in 1992 the Bank’s commitments to the country have totaled over US$12 billion for over 70 projects and programs.
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