Economy Ministry: World Bank ready to support land reform in Ukraine

Economy Ministry: World Bank ready to support land reform in Ukraine

The World Bank is ready to continue supporting the implementation of land reform in Ukraine as it believes that it will contribute to the operation of the entire agricultural sector of the country.

"Land reform is crucial to the future of Ukraine, its essence is not only in the launch of the land market but also in the operation of the entire agricultural sector, including small farmers. For our part, we are ready to continue to provide support in advancing this important reform for Ukraine," World Bank Regional Country Director for Eastern Europe Arup Banerji said at the meeting with First Vice Prime Minister - Minister of Economy of Ukraine Oleksiy Lyubchenko, the Ministry’s press service informs.

In addition, the World Bank is ready to provide support to the Government of Ukraine in environmental protection and eco-modernization of domestic industry. Ukraine is a long-term partner of the World Bank, Banerji noted.

The parties also discussed a number of other reforms in key areas of Ukraine's economy and cooperation with the World Bank in their implementation.

"Currently, Ukraine is undergoing a series of large-scale reforms aimed at economic growth and the creation of a favorable investment climate. In particular, the priorities are to continue corporate governance reform, land reform, climate modernization of industry, and the transformation of the coal industry. We hope for further fruitful cooperation with the World Bank, financial support for projects in Ukraine, and expert assistance," Lyubchenko said.

In particular, the First Vice Prime Minister said that the Government of Ukraine had approved several documents aimed at improving the management system of key state-owned companies.

He also praised the support of the World Bank in drafting major bills that formed the basis for the launch of the land market.

The meeting participants also expressed readiness to start preparing a new partnership strategy between the World Bank and Ukraine as the concept of partnership with Ukraine for 2017-2021 financial years expires soon.


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