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Tuesday, August 22, 2017

Ukraine bank official points to international investment as positive sign

National Bank of Ukraine's (NBU) director of international relations told members Thursday the country is receiving a large amount of financial and investment support from international groups including the World Bank, the European Bank for Reconstruction and Development, the European Investment Bank and the International Monetary Fund (IMF). 

The IMF is considered to be the largest contributor out of these organizations, with an initial disbursement of $2.462 billion of a full $5 billion support package.

"The IMF is currently Ukraine's key partner," Serhii Kruhlyk said. "It should be noted that the development of relations between our country and the IMF serves as an indicator for the international community, other financial institutions and foreign investors to gauge the economic situation and investment climate in the country."

The second portion of this financing will be released after a review from the organization. He also said foreign investors are keeping an interest in the country's recovery efforts. 

"It is a positive sign to potential investors that today is the right time to invest in Ukraine's economy," Kruhlyk said.

Organizations in this story

International Monetary Fund 700 19th Street, N.W., Washington, D.C. - 20431

National Bank of Ukraine 9 Instytutska St., Kyiv 01601

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