On May 23, Minister of Finance Oleksandr Danyliuk and his first deputy Oksana Markarova met Georgina Baker, Vice President of the International Finance Corporation (IFC), and Stephanie von Friedeburg, chief operating officer of the IFC.
The parties discussed the privatisation of state-owned banks and the further reform of the state banking sector in Ukraine.
The IFC directors made compliments to the progress achieved by the Ukrgazbank in the implementation of the Green-Banking Program and stressed that Ukraine must solve the issue of bad credits to ensure the successful development of its banking sector. Also, Ukraine must implement corporate management in its state-owned banks in line with the best international practices. Presently, these banks operate without capable supervisory boards.
The IFC directors also stressed that it is crucial to develop and provide funding for IT technologies and new start-ups in the agricultural sector of Ukraine. The IFC representatives expressed their interest in funding companies contributing to development in these areas. From his side, Oleksandr Danyliuk stressed the importance of the development of higher education in the IT sector of Ukraine.