OREANDA-NEWS. Prompt implementation of the EU financial support and development of mechanisms and instruments for targeted promotion of structural changes in the banking sector have been discussed during the meeting.

Major problems to be solved to allow foreign investors to increase investments into different sectors of the Ukrainian economy have been covered.

Ukraine informed the Federal Government of Germany about the National Bank of Ukraine's measures aimed at rehabilitation of domestic financial sector. In particular, the measures provide for the flexible exchange rate to be implemented, the Development Strategy for the Banking System for the period up to 2020 to be finalized, corruption mechanisms to be eliminated from the banking sphere, depositor protection system to be strengthened, etc.

Germany instead welcomed preliminary agreements between the International Monetary Fund and Ukraine and gave positive assessment of the reform program the Government prepared.

Mr. Thomas Steffen highlighted the priorities of the banking sector reforms in Ukraine being the National Bank of Ukraine independence and upgrading of financial institutions in compliance with the European standards. He also mentioned that redirecting of bank lending into programs for real sector will facilitate development of entrepreneurship in the country as well as transition to democratic governance and market economy.

Let us recall that the EU countries are intended to give approximately EUR 1.6 billion of macro financial support to stabilize the economic situation in our country.