Ukrainian President Viktor Yanukovych has praised the effective cooperation of Ukraine and the European Bank for Reconstruction and Development (EBRD), he said during a meeting with EBRD President Suma Chakrabarti in Kyiv, Interfax-Ukraine news agency reports.

"Several things contribute to the effective cooperation between Ukraine and the EBRD. I mean, first of all, a stable partnership, in which the bank never lets Ukraine down, while Ukraine, its government, does its best to fulfill its obligations," the head of state said.

In addition, Yanukovych said Ukraine has launched reforms supported by the EBRD.

He also said that Ukraine has been implementing reforms for over three years and added that the country would hold to this course.

In turn, Chakrabarti said Ukraine and the EBRD are implementing 200 projects, with the total amount of investment is estimated by around 4.5 billion EUR. He also said that last year investments totaled 1.2 billion USD.

The EBRD head stressed that the bank and Ukraine will continue their cooperation despite the difficult economic situation in the country and outside it.

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