OREANDA-NEWS. August 02, 2012. The strengthening cooperation with the World Bank will contribute to the effective implementation of reforms in Ukraine. This was stated by the First vice Prime Minister of Ukraine Valeriy Khoroshkovskiy during a meeting with Managing Director of the World Bank Sri Mulyani Indrawati, held in Washington.

During the meeting the main attention was paid to the implementation of investment projects and system projects of the World Bank in Ukraine.

According to the First vice Prime Minister of Ukraine, the successful implementation of 11 investment projects in the total amount of 1.72 billion dollars of loans will allow to Ukrainian companies-beneficiaries not only to modernize the means of production, but also bring advanced technologies.

The parties also discussed the state of preparation of system development projects. The priority of these must become "The second program loan for the rehabilitation of the financial sector" in the amount of USD 350 million and "The Fourth Development Policy Loan" in the amount of USD 500 million.

Mr. Khoroshkovskiy said that given the progress in the preparation of these projects, the Ukrainian side is ready to work with the Bank to carry out the necessary steps to implement them soon.

The sides noted the considerable potential of lending in Ukraine in terms of capacity of the Bank to finance projects in the amount of USD 1 billion annually.

It has been agreed, in particular, an agreement to enhance cooperation within the Partnership Strategy of the World Bank and Ukraine for 2012-2016 fiscal years, and further cooperation to improve the effectiveness of the implementation of the project portfolio.