Contents tagged with World Bank

  • World Bank to allocate $135 million for medical reform in Ukraine

    The World Bank is ready to allocate $135 million to Ukraine for the purchase of medical equipment, reconstruction of family medicine clinics and medical reform in the regions, said Ukrainian Prime Minister Denys Shmyhal on Telegram channel.

    "Today, I held a meeting with the World Bank Country Director for Belarus, Moldova and Ukraine Alex Kremer. We spoke, in particular, about a joint project of the World Bank and the Ukrainian Ministry of Health, "Serving People, Improving Health," Shmyhal …

  • More than half of Russia’s youths want to emigrate

    The proportion of young people in Russia who do not want to link their future to the country has grown dramatically, the sociologists at the Levada Center have discovered.

    A survey conducted in September in 50 of Russia’s federal subjects showed that 53% of respondents between 18 and 24 years of age wanted to emigrate. Their numbers have jumped by nearly 50% compared to May, and hit a record for at least the 10 years of monitoring.

    The summer months, which were accompanied by protests in …

  • Ukraine may receive World Bank's funding in 2020

    After the meeting of the Ukrainian delegation with the World Bank's representatives, the press service of the Ukrainian Finance Ministry reported that Ukraine might receive financial support from the World Bank Group in early 2020 if it carries out several reforms, including privatization and the continuation of a balanced fiscal policy.

    The Ukrainian delegation headed by Finance Minister Oksana Markarova and Economy Minister Tymofiy Mylovanov presented the agenda for the Ukrainian government. …

  • Ukraine will not receive macro-financial assistance from the EU in March

    The Ukrainian Financial Ministry stated that Kyiv might not have time to get macro-financial assistance from the EU in the amount of 500 million euro by the end of March 2019.

    "Now, the [EU] assessment mission is working and drawing its conclusions. We have very little time left till the end of this month and we should count on future periods [for funding],” Deputy Minister of Finance Vasyl Shkurakov said. He estimated that Ukraine should receive about 4 billion dollars from external creditors …

  • G7 and World Bank urge Ukraine to reinstate illicit enrichment article of Criminal Code

    The Group of Seven and the World Bank have criticized the Constitutional Court of Ukraine’s decision to revoke article 368-2 of the Criminal Code, which deals with illicit enrichment.

    “The recent elimination of the illicit enrichment offence from the criminal code is a serious setback in the fight against corruption in Ukraine. This has weakened the impact of the whole anti-corruption architecture, including the soon to be established High-Anti-Corruption Court, which was expected to rule on a …

  • Ukraine receives €529 million loan under World Bank’s guarantee

    On February 28, Ukraine obtained a loan of 529 million euro from Deutsche Bank under the World Bank’s guarantee for supporting the state policy on economic growth, reported the Ukrainian Finance Ministry.

    The loan comes in two tranches. Tranche A in the amount of 240 million euro matures in 4 years and Tranche B in the amount of 289 million euro matures in 10 years. The second part of an existing guarantee for the whole amount of 750 million dollars was used for this loan.

    Ukraine obtained …

  • World Bank: Ukraine will need 50 years to reach Poland’s economic level

    According to the World Bank’s vice president for Europe and Central Asia, Cyril Muller, without necessary reforms and having current GDP growth rates, Ukraine will need 50 years to reach Poland’s current economic level, reported  Economichna Pravda with reference to a World Bank study on the economic development of Ukraine.

    According to Muller, in 2017 the total net worth of the three richest individuals in Ukraine exceeded 6% of Ukraine’s GDP.

    “It is almost twice as much as in Russia and …

  • World Bank calls Ukrainian reforms effective

    Representatives of the World Bank have remarked on the high effectiveness of the reforms carried out in Ukraine’s financial sector, the National Bank of Ukraine (NBU) reported on Facebook.

    “Last week as part of a tour of Eastern Europe, 10 executive directors of the World Bank came to Ukraine. As part of their visit, they had a series of meetings with domestic officials to discuss future collaboration. The World Bank representatives remarked on the high effectiveness of the reforms which have …

  • Russia refuses to take part in recapitalization of World Bank

    Russia has refused to participate in the recapitalization of the World Bank (WB) due to disagreement over the new principles of its credit policy, TASS reports.

    The United States has also decided to abandon its participation in the recapitalization; however, the US will retain a blocking minority stake, which will drop from 20% to 15%.

     "We [Russia] proceed from the fact that we will not participate. Firstly, we are not happy with the fact that the IDA [part of the World Bank] is maintained …

  • World Bank discusses budget support program with leaders of Ukraine

    The World Bank is discussing a budget support program with the leaders of Ukraine which provides guarantees in the amount of $800 million, as stated by Cyril Muller, Vice President of the World Bank, in an interview with ZN.UA.

    “This assistance will, in fact, partially fund the costs associated with repayment of Ukraine’s debts. The program provides for the provision of 800 million dollars to the government of Ukraine. Also, we are now discussing a number of projects in the energy sector, and …