EBRD supports Ukraine reforms

By Anton Usov

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Sir Suma Chakrabarti holds talks with President Poroshenko
EBRD President Sir Suma Chakrabarti underscored the Bank’s support for reforms in Ukraine during discussions in Kiev on Monday with Ukrainian Head of State Petro Poroshenko, Prime Minister Arseniy Yatsenyuk and other senior officials.
With President Poroshenko, Sir Suma discussed latest economic developments and expressed the Bank’s strong support for Ukraine’s programme of reforms. The EBRD was prepared to provide practical help, he said.
Both sides looked forward to the speedy finalisation of an accord with the International Monetary Fund which would also support reforms and help to stabilise the economy which has been severely weakened and faces a sharp contraction in 2015.
The EBRD with other international organisations has worked with the Ukrainian authorities to improve corporate governance with the establishment of an Anti-Corruption Initiative and an independent Business Ombudsman to help create a more favourable investment climate.
Another focus of Ukraine’s reforms is the modernisation and commercialisation of Naftogas, the Ukrainian gas utility as well as providing generally for greater energy efficiency in the Ukrainian economy.
The EBRD invested over €1.2 billion in Ukraine in 2014.
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