OREANDA-NEWS. October 1, 2012. The EBRD primarily directs its assistance to reforming and modernizing Ukraine’s vital industries such as energy and energy saving, transport and communication, municipal infrastructure, etc. That was communicated by Minister of Finance of Ukraine Yuriy Kolobov in a September 27 meeting with members of EBRD Board delegation members.

The meeting has considered joint projects underway in Ukraine supported by the EBRD. Speaking about infrastructure projects, Yuriy Kolobov said that Ukraine was interested in investment inflow and credit resource attraction. According to Minister of Finance, when implemented successfully, public investment projects will enhance links with the European Bank for Reconstruction and Development.

EBRD delegates have also complimented Ukrainian Government on improving Ukraine’s status in the World Economic Forum (WEF) annual rating of economy competitiveness. Thus, Ukraine places 73rd having grown 9 positions this year. Among other things, WEF Report made public early September says that Ukraine’s competitiveness is visibly better than the one in previous years, primarily due to reducing budget deficit and GDP debt and inflation interrelation.

According to EBRD officials, a progress like this is definitely generated by a balanced budget policy and consistent reforms in the country.

In turn, Yuriy Kolobov appreciated EBRD senior officials’ support of economic reforms in Ukraine emphasizing that effective EBRD cooperation would help intensifying interacting with outside investors.

For reference.

As of September 2012, EBRD portfolio in Ukraine is about 320 projects totally covered by EUR 8 billion.

Throughout EBRD cooperation (1993 to 2012), public sector has made transactions of EUR 2.32 billion totally (as part of 24 projects) including EUR 1.1 bn applied so far, as of September 1, 2012.

Currently, supported by EBRD, Ukraine’s public sector is implementing 6 investing projects (plus 2 projects pending validation).