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Sunday, August 25, 2019

World Bank to help improve governance, fight corruption in Ukraine

The World Bank said on Monday that it is committed to improving governance and fighting corruption in Ukraine--issues that have been a key part of its policy dialogue with the Ukrainian government.

The World Bank expressed its support for a new anti-corruption initiative in Ukraine to improve the country's business climate and stimulate economic growth, and a memorandum of understanding was signed between the World Bank, the Ukrainian government, the European Bank for Reconstruction and Development (EBRD), the Organization for Economic Cooperation and Development (OECD) and the Ukrainian business community.

"The WBG is very pleased to support the initiative," Qimiao Fan, the World Bank's Belarus, Ukraine and Moldova country director, said. "Concerted and sustained efforts to improve governance and fight corruption are critical to restore people's trust in the state, improve service delivery, and revive growth in Ukraine. The World Bank will continue to support the people of Ukraine in this important work."

Rufat Alimardanov, the International Finance Corporation's regional head for Ukraine and Belarus, said transparency is key to a competitive private sector.

"Through our advisory work we will continue to help Ukraine streamline its regulations, eliminate barriers to investment, and increase transparency," Alimardanov said.