World Bank praises PrivatBank nationalization

Source : 112 Ukraine

It is noted that PrivatBank needs an independent Supervisory Board
14:11, 20 December 2016

The World Bank praised the nationalization of Privatbank, reads the statement by the financial authority.

"The World Bank believes that this decision is an important step to preserve financial stability in Ukraine, increase confidence in the banking system and ensure equal opportunities for all banks in need of recapitalization," reads the statement.

Related: Finance Minister: PrivatBank Supervisory Board and Management Board to be set on Tuesday

The statement noted that it is critical to appoint an independent professional board and the supervisory board to effectively restructure PrivatBank, to protect depositors and to minimize the cost to taxpayers.

The World Bank said that, together with other partners, it will continue to support Ukraine.

Related: Kolomoisky got rid of headache: How Presidential Administration negotiated on PrivatBank nationalization

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