In Kyiv, President Petro Poroshenko has held a meeting with President of the European Bank for Reconstruction and Development Suma Chakrabarti.
The Head of State has emphasized the importance of broadening cooperation between Ukraine and the EBRD. The President of the Bank has assured that cooperation with Ukraine was one of the priorities for the EBRD. Suma Chakrabarti has expressed condolences over casualties caused by the conflict in Donbas.
The President has informed that the new agreement with the IMF aimed at "pretty ambitious strategy of reforms" was about to be completed. The Head of State is hopeful that the Memorandum with the IMF will be signed shortly.
The President has also informed on the progress in reforms, particularly on the practical anti-corruption steps – the establishment of the Anti-Corruption Bureau, introduction of the judicial reform and deregulation for the creation of favorable investment climate. Significant steps have been also made to stabilize the situation in financial sphere.
"We count on a significant increase of investments from the EBRD. We are also hopeful that the Bank will support us on the way of reforms in the context of interaction with the National Council of Reforms," Petro Poroshenko said.
The Head of State has noted that a series of countries provided or were ready to provide significant financial support for Ukraine at bilateral level – USA, Canada, Japan, Australia, Switzerland, as well as the EU and the World Bank. Such a support creates the so-called "financial pillow", which should ensure the success of reforms, as stated by the President.
Managing Director for Eastern Europe and the Caucasus Francis Malige has outlined the Bank's position on sectoral reforms in energy and banking spheres of the Ukrainian economy. According to him, reforms in energy sector are an example of actions' complementarity between the IMF and EBRD.
He has informed on close interaction with the NJSC "Naftogaz of Ukraine" regarding its reformation, which provides for the procurement of equipment, reverse flow import and implementation of transparent gas procurement rules. "All is going to work well in combination with what you do with the IMF in terms of the gas price increases and the implementation of the subsidy system for the poor people," the expert said.
The EBRD is also implementing nuclear safety projects and developing energy saving technologies in the energy sector of Ukraine. Francis Malige has informed on the intention to expand the energy saving program towards interaction with individuals.
The Managing Director for Eastern Europe and the Caucasus has noted the efforts of the National Bank aimed at stabilization of the financial situation. He has informed that the EBRD was processing a series of projects on financing the capital of some banks. Also, the Bank promotes the concept of modernization of state-owned banks through their partial commercialization given that over 50% of the capital belongs to the state.
On February 17, the MOU between the Executive Committee of Reforms and the EBRD on the support of the National Council of Reforms and the Project Office of Reforms is to be signed. The EBRD will provide the funding of the Project Office in the amount of EUR 1.5 million.
The meeting was also attended by Deputy Head of the Presidential Administration Valeriy Chaly, Deputy Head of the Presidential Administration – Secretary of the National Council of Reforms Dmytro Shymkiv, Bank's Director of Communications Jonathan Charles and Bank's Director for Ukraine Sevki Acuner.