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World Bank calls priorities for reforms in Ukraine

Ukraine needs to make more efforts in carrying out reforms in the land market and solving the issue of non-performing loans in the banking sector.

Cyril Muller, World Bank Vice President for Europe and Central Asia, said this during a visit to Kyiv today, the World Bank's press service reported.

"Over the last couple of years, Ukraine has taken major steps to reform pensions, health care, and energy subsidies, and has approved legislation to establish an anti-corruption court, and strengthen state-owned banks," Muller said.

According to him, more needs to be done in Ukraine to build upon the results achieved to date, especially with regard to opening the land market, unbundling the gas sector, and cleaning up non-performing loans.

Muller commended Ukraine on the wide-ranging reforms the country has undertaken recently and which led to the approval of a $750 million Policy Based Guarantee for budget financing by the World Bank in December 2018.

Since May 2014 the World Bank has provided a total of $5.5 billion to Ukraine (including four development policy loans and seven investment operations), as well as a $500 million gas guarantee. The World Bank’s investment projects support improving basic public services that directly benefit the people of Ukraine, by improving water supply, sanitation, heating, power, roads, social protection and healthcare, as well as private sector development.