5 new projects worth $1.7 billion are prepared

Ukraine and the World Bank agreed to increase the portfolio. This was announced during the summing up of joint work in 2013, press service of the Ministry of economic development writes.

Deputy Minister of Economic Development and Trade of Ukraine Anatoliy Maksyuta and World Bank Director in Ukraine, Belarus and Moldova Chimyao Fan discussed the results of Ukraine's cooperation with the World Bank and noted its dynamic development, expanding the range of fields and areas of partnership, improving cooperation mechanisms and tools.

«For the third consecutive year, Ukraine has shown consistently high levels of disbursements. Thus, the ratio of the sample in 2013 fiscal year (which ended on 06.30.2013) has doubled as compared with 2011 (15.1%) and reached a record high during the entire period of cooperation with the Bank with the rate of 30.2 %», - said Anatoly Maksyuta.

It was also noted that positive trend has continued at the first half of 2014 fiscal year (July - December 2013). As of January 2014 disbursement rate (ie, the proportion of finance taken from the total project portfolio) was 21.4 %, which allowed Ukraine with this indicator to take 2nd place among 22 countries in the Europe and Central Asia.

This is due to the following positive result of the project, the parties agreed to increase the project portfolio by preparing five new infrastructure and social projects totaling more than $ 1.7 billion for modernization of water and heat systems in the cities in Ukraine, further modernization of substations NPC «UkrEnergo», reform the health and social security.

To consolidate the achieved agreements, First Deputy Minister of Economic Development and Trade of Ukraine Anatoliy Maksyuta and World Bank Director for Ukraine, Belarus and Moldova Chimyao Fan signed the Protocol to the review project portfolio.