The Government of Ukraine is actively reforming the country and cooperating with key international partners in many reform areas. Prime Minister of Ukraine Volodymyr Groysman made this statement during a meeting with Cyril Muller, World Bank Vice President for Europe and Central Asia. In February 2018, the sides drew up an agenda for cooperation, and now they have summarized the interim results and identified the priorities for 2019.

According to the Prime Minister, the reforms being implemented, inter alia with the support of the World Bank yield results. The economic growth in the third quarter of 2018 amounted to 2.8%, inflation is slowing down, budget deficit is decreasing. Ukraine strengthens positive trends and switches to medium-term budget planning.

"We praise the level of our cooperation. We feel the support in reforming Ukraine as well as in introducing financial and economic stability. We managed to adopt a balanced budget in time in November 2018, to continue cooperation with the International Monetary Fund  and to ensure smooth beginning of 2019. It goes without saying that we will continue to reform the country and cooperate with key international partners, including the World Bank. We are committed to preserving high pace of our cooperation", the Prime Minister stated.

In turn, the World Bank Vice President stressed: "I want to acknowledge your leadership in achieving many things. Last year, the Government of Ukraine introduced a large number of reforms. When we talk about relations with Ukraine, we commend the change of rhetoric. Ukraine is embarking on a sustainable reform approach, and we continue to support you. We want to provide not only financial support, but also contribute to the implementation of government programs."

The Head of Government noted that support of international partners for Ukraine provides added momentum to making changes in all spheres of life - from establishment of a favorable business climate and modernization of the financial and energy sectors to  adoption of new principles of public administration.

It should be noted that cooperation with the World Bank is being enhanced by specific joint projects in agribusiness, industry, corporate governance, infrastructure, education and  development of human capital in Ukraine.

Background

The World Bank is one of the largest institutional investors in Ukraine. During all years of cooperation, the World Bank approved 55 projects with a total value of $ 12 billion. As of January 2019, 8 joint investment projects worth over $2.4 billion and one $750 million policy-based guarantee are being implemented. Projects cover various areas, including energy, road transport, social assistance, health care development, small and medium business.

The World Bank is also among the leaders of international organizations that provide assistance for reforms in Ukraine.