Finance Minister Viktor Pinzenyk has called on the Association of Ukrainian Banks to facilitate preparation of a project aimed at broadening access to the market of financial services, the Cabinet’s press service reported.
The government has drafted a program aimed at generally improving access to loan markets, with special attention aid to entrepreneurs based in the rural areas and local self-government organs.
Pinzenyk announced this in a letter.
Under the program, participating financial intermediaries are expected to provide loans to borrowers in accordance with the commercial practice approved by the World Bank.
Introduction of the project is expected to be completed by January 1, 2006.
The first stage of the program, which will be implemented during the 2006-2010 period, will involve a credit line for developing the economies of rural areas and the municipal loan market, institutional development of financial intermediaries, and development of the financial sector and local self-government organs.
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