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Tuesday, December 12, 2017

Chakrabarti, Poroshenko discuss Ukrainian support

The European Bank for Reconstruction and Development (EBRD) reported that its president, Sir Suma Chakrabarti, met with Ukrainian President Petro Poroshenko to discuss reform support from the bank.

Both sides discussed recent economic developments, and Chakrabarti expressed approval of the Ukrainian government's plans for financial and banking system reforms. He also offered the bank's services in terms of practical support. 

An additional facet of reforms is to modernize the country's gas utility, Naftogas, in order to make it more commercially viable. EBRD and other international financial institutions have been working closely with the government in order to establish policies that stifle corruption in government and in business while facilitating a healthy investment climate.

Both the bank and Ukrainian officials are hopeful that the International Monetary Fund will quickly approve an agreement to support measures to stabilize the country's economy. In 2014, the EBRD invested approximately $1.4 billion in the country.

Organizations in this story

European Bank for Reconstruction and Development One Exchange Square London EC2A 2JN United Kingdom

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

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