The World Bank’s Board of Executive Directors today approved a US$500 million IBRD operation to finance the Financial Sector Development Policy Loan in Ukraine, RBK-Ukraine (РБК-Украина) reports citing the World Bank’s press-service.
This new financing supports a number of high-priority reform measures in the banking sector of Ukraine.
«Bringing back stability and economic growth to Ukraine will only be possible if the country stays on the path of reforms,» - said Qimiao Fan, World Bank Country Director for Belarus, Moldova, and Ukraine.
Fan noted that timely implementation of banking sector reforms is needed to help revive credit to the real economy.
