OREANDA-NEWS. On January 09, 2007 the World Bank's Board of Executive Directors approved the Public Finance Modernization Project for Ukraine in the amount of USD 50 million, reported the Official website www.kmu.gov.ua.

The objective of this project is to strengthen public financial management in Ukraine by improving operational efficiency and transparency.

The project is also aimed at improving the budgetary process.

It is scheduled for 4 years.