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News / 29 January 2014 | 10:46
World Bank expands portfolio of projects in Ukraine

World Bank expands portfolio of projects in Ukraine

Ukraine and the World Bank agreed to increase the portfolio of projects. The decision was based on the outcome of the joint work in 2013, the Information-Analytical Bulletin of the cabinet of Ministers of Ukraine informs.

Anatoly Maksyuta, First Deputy Minister of Economic Development and Trade of Ukraine and Qimiao Fan, World Bank Director for Ukraine, Belarus and Moldova noted that Ukraine's cooperation with the World Bank has been developing dynamically, expanding range of fields and areas of partnership, as well as improving the mechanisms and instruments of cooperation.

This is proved by the annual increase of the steadily rising rates of disbursement.
"The 2013 fiscal year (ended 30.06.2013) the disbursement coefficient was doubled compared with 2011 (15.1%) and reached a record for the entire period of cooperation with the Bank – 30.2%," Maksyuta said.

In the next financial year, the positive trend continued. As of January 2014, the disbursement ratio (the proportion of disbursed finance in the total project portfolio) was 21.4%, which allowed Ukraine to take second place among 22 countries in Europe and Central Asia.

Successful cooperation will be continued by increasing project portfolio, which contains five new infrastructure and social projects totaling over 1.7 billion USD to upgrade water and heat supply systems of Ukrainian cities, to further modernize Ukrenergo substations, as well as to reform health care and social protection. These agreements have been secured by the parties by signing of the Protocol of project portfolio inspection.

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