Ukraine's PM and the World Bank Vice President discuss cooperation prospects

Prime Minister Viktor Yanukovych met with the World Bank Vice President for Europe and Central Asia Region Shigeo Katsu, Cabinet press office reported.

During their discussion the Prime Minister of Ukraine stressed that it is important to regularly carry on a dialogue between leadership of the Government and the World Bank. Systematic meetings between leadership of the Government and the World Bank gives an opportunity to exchange opinions, to understand better positions of the sides that make our cooperation more efficient, Viktor Yanukovych noted.

The Prime Minister focused attention on basic results of the economic development of Ukraine in 2006 and strategic plans of the Government. According to Viktor Yanukovych, due to consolidated stand of the Government and Parliament necessary laws for Ukraine’s accession into the World Trade Organization have been adopted. Summing up the results of 2006 the rates of economic growth increased, in particular, real GDP increased by 7% as compared with 2005.

“The Cabinet of Ministers is actively working at drafting the strategy of economic and social development of Ukraine for a medium-term period till 2011”, the Head of Government said.

As Viktor Yanukovych noted, the economic strategy of the Government envisages elaborating mechanisms of reliable protection of all kinds of property, guaranteeing its inviolability, ensuring rights of minority stockholders at legislative level. That is why, according to the Prime Minister, overcoming corruption and shadow economy should become one of the priorities of the Government.

In the PM’s opinion, implementation of the pretentious plans on economic and structural reforms requires attracting significant resources of the investors and aid of international financial organizations, first of all the World Bank.

At the same time, according to Viktor Yanukovych, Ukraine and the Bank shall jointly update projects portfolio taking into consideration the changes of the Cabinet priorities. First of all it concerns drafting of new projects aimed at developing energy, energy saving, transportation and municipal infrastructure. “It is important for Ukraine the World Bank’s support in reforming the judiciary and pension systems, administration of government finance”, the Prime Minister noted.