World Bank hails steps of government of Ukraine in recapitalization of banks

The World Bank has positively evaluated the steps taken by the Government of Ukraine in the direction of recapitalization of banks. Acting director of the World Bank for Ukraine, Belarus and Moldova Pablo Saavedra announced on Wednesday, during a briefing at the Cabinet of Ministers.

“Economy is incapable of operating without proper functioning of the banking sectors, that’s why the World Bank hails all the efforts of the Ukrainian Government directed to invigoration of the banking sector with the purpose to resume its activity, to get its second wind,” Pablo Saavedra said, Cabinet's press office informs.

He opined a respective Government’s decision is of peculiar importance as it is to facilitate solving of a line of problems the banking system of Ukraine is experiencing: “Today the Cabinet of Ministers has approved an ordinance which will give an opportunity to create the structure of recapitalization of the banking system of Ukraine”.

Pablo Saavedra also emphasized openness of activity of the Cabinet of Ministers: “We are grateful to the Government of Ukraine for openness and cooperation with our experts”.