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EBRD supports Ukraine’s strategy for state-owned banks

Source : 112 Ukraine

The strategy was developed in cooperation of international institutions.
15:07, 26 February 2018

EBRD
astanatimes.com

The European Bank for Reconstruction and Development (EBRD), the largest international investor in Ukraine, has voiced its support for the updated strategy for reforming the country’s state-owned banks, UNION reports.

Related: EBRD supports Ukraine’s efficient grain logistics

EBRD Country Director for Ukraine Sevki Acuner told journalists on 23 February that the strategy had been developed in the form of a general debate, which led to a very clear-cut strategy with the clear vision of goals for the further development of the state-owned banks.

Acuner pointed out that besides the EBRD, other international institutions participated in the development of the strategy. Among them were the World Bank, the International Finance Corporation and the International Monetary Fund.

Related: EBRD to issue $50 million in securities to Ukrsibbank for corporate lending

The Ukrainian state, represented by the Ministry of Finance, owns four major financial institutions in Ukraine in terms of assets, namely Privatbank, Ukreximbank, Oshadbank and Ukrgazbank. The updated strategy for reforming the state-owned banks approved by the Cabinet of Ministers on 21 February forecasts the complete sale of Ukrgazbank by 2020 and Privatbank by 2022.

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