An agreement on grant, provided by the Japanese Fund of Strategic and Human Resources Development was signed by First Deputy Economy Minister Anatoliy Maksiuta and World Bank Director for Ukraine, Belarus and Moldova Paul Bermingham yesterday. The agreement envisages granting Ukraine as many as 700,000 USD for further fulfilment of a structural reforms program, "Cabinet's press office" reported.

The grant aims at assisting the Ukrainian Government in preparation for receiving the second loan of the World Bank to support of a development strategy in the three sectors - Investment climate improvement, enhancement of state government and finance management and development of social cooperation.

The World Bank has been supporting basic strategic and institutional reforms in Ukraine since the latest five years through granting a number of loans - the program system loan 1 (2001), the program system loan 2 (2003) and the first loan to support a development strategy (2005). All the loans assisted Ukraine to pay off salary and pension debts. It also resulted in improvement of accounting standards and business practice, launch of land and pension reforms, creation of a law base for mortgage operations and ability to reach a distinctive progress on the path to accession into the WTO.


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