The Board of Directors of the EBRD has approved the new EBRD Strategy for Ukraine for the period from 2018 till 2023.
The new Strategy offers more opportunities for the engagement of the bank in Ukraine and makes it possible to increase funding for EBRD projects. Also, the Strategy stipulates support for reforms by increasing concrete investments in the public and in the private sector.
“I am grateful to the EBRD for its active cooperation in the development of the new strategy. With this new approach the EBRD is strengthening its role as a development bank and a partner for Ukraine. From now on, business will not only be able to receive funding from the EBRD – it can also rely on the bank’s support in adjusting to international standards. And the fact that the Strategy is valid for 5 years means the EBRD trusts Ukraine,” said acting Minister of Finance of Ukraine Oksana Markarova.
Given positive changes in the country, Ukraine’s economic growth and decrease of its inflation rate as well as considering the current situation, EBRD experts has determined five priority areas for the bank in Ukraine for the period till 2023:
• support for the privatization and commercialization of state-owned companies to promote competition and implement high standards of corporate management;
• support for the rule of law, competition and equal rules of the game in the private sector by supporting companies which comply with the highest standards in their corporate practices;
• strengthening of the energy security of Ukraine through support for the effective regulatory environment, market liberalization, diversification and increased output in energy production as well as through the improvement of energy efficiency;
• support for the stability of the financial system by strengthening the banking sector and the development of the capital market and other non-banking financing tools;
• improving the international integration of Ukraine’s economy through fostering trade and investments, expanding infrastructure links and support in approximation to the EU standards.