Yanukovych thanks IFC for assistance

KYIV, March 21 /UKRINFORM/. The expert assistance of the International Finance Corporation (IFC) in different areas has a positive effect on the progress of reforms in Ukraine, President Viktor Yanukovych has said this at a meeting with Jin-Yong Cai, Executive Vice President and CEO of the International Finance Corporation in Kyiv on Thursday.

"We appreciate the role of experts from the International Finance Corporation, operating in Ukraine, and in the areas where we work together we feel the constant assistance, which has a positive effect on the pace of reforms," the head of state said.

According to him, a wide range of issues of cooperation with the International Finance Corporation includes systemic reforms that were launched in Ukraine in 2010.

"I would like to reiterate that we always remain your reliable partner and we are grateful to you for the cooperation we have with you in Ukraine," Yanukovych noted.

According to him, the results of studies of the Ukrainian project led by IFC "The investment climate in Ukraine" is a pointer to the implementation of reforms in the sphere of state control and technical regulation.

Jin-Yong Cai, in turn, noted that Ukraine has a great potential for development.

"We want to be partners in this," he added.

IFC, a member of the World Bank Group, is the largest global development institution focused exclusively on the private sector in developing countries.

Established in 1956, IFC is owned by 184 member countries. Working in more than a 100 developing countries allows companies and financial institutions in emerging markets to create jobs, generate tax revenues, improve corporate governance and environmental performance, and contribute to their local communities.

Ukraine became a member of IFC in 1993. IFC began operating in Ukraine by pioneering advisory projects in privatization and land reform. This helped create a base for the private sector, with support from such governments as Canada, Japan, Norway, Sweden, the United Kingdom, and the United States.

Through a combination of investment and advisory services IFC continues to partner with clients in strategic sectors crucial for Ukraine's sustainable development, and with a particular focus on agribusiness, infrastructure, energy efficiency/cleaner production, and financial markets.

Helping Ukrainian companies become market leaders and global players, IFC has invested over $2.3 billion, including $632 million in syndicated loans, in 70 projects across a variety of sectors. In fiscal year 2012, IFC's commitments to Ukraine totaled $156 million.