Ukraine can get part of $40 trillion of "free" investment - the World Bank

Source : 112 Ukraine

The conditions for a possible tranche are land reform and the establishment of the Anti-Corruption Court
09:22, 14 November 2017

Open source

World Bank Group President Jim Yong Kim said that this financial institution has 40 trillion dollars of investment that can be invested in projects in Ukraine. He said this during the meeting with the Chairman of the Verkhovna Rada of Ukraine Andriy Parubiy with the participation of the heads of the parliamentary factions and groups, according to the press service of the parliament.

"He informed that there are 40 trillion dollars in the world, which are looking for the addressee - Ukraine could become such a place," the report said.

In addition, Jim Yong Kim noted that the opening of the land market will allow, according to preliminary estimates, to increase GDP by 1.5%, and this is the sector that investors pay the most attention to in terms of further development of Ukraine. He also emphasized the need to create an Anti-Corruption Court.

Related: Ukraine’s Finance Minister meets Vice President of World Bank

As it was reported "Urban Infrastructure", a joint project of the World Bank and Ukrainian Ministry of Regional Development, during which water utilities in 14 cities of Ukraine were reconstructed, is completed. It took $140 mln. 

“The first joint project "Urban Infrastructure" with participation of the World Bank was successfully completed on June 30, water channels reconstruction in 14 Ukrainian cities took $140 mln expenditures," according to the Deputy Minister of Regional Development Roman Chuprynenko.

Financing agreement between Ukraine and the European Investment Bank (EIB) was signed in order to implement "Emergency credit recovery program for Ukraine" project, amounting to 200 mln EUR. The agreement is to promote restoration of the eastern regions of Ukraine, and the needs of regions, which provide shelter to IDPs.

Related: World Bank stands for removal of moratorium on sale of land in Ukraine

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