The Cabinet of Ministers of Ukraine approved the involvement of the World Bank $ 500 million for the development of the financial sector.
This is stated by the Government №830 of August 12.
“Recognize the appropriate training from the International Bank for Reconstruction and Development system project” The second program loan for development policies of the financial sector “, as well as attracting loans from IBRD to implement a system project in the amount of $ 500 million”, – the report says.
Cabinet appointed the Ministry of Finance responsible for the preparation of the system of the whole project and approved the draft letter to the government and the National Bank of the World Bank on policy development.
The Government has identified the Ministry of Finance and the Deposit Guarantee Fund of natural persons responsible for the execution of works in preparation for the individual components of a system project in terms of strengthening the operational, financial and regulatory capacity of the Deposit Guarantee Fund individuals for the settlement of insolvent banks.
NBU is determined responsible for the increase in the solvency of the banking system through the implementation of plans to recapitalize, restructure banks and ensure timely implementation of the interventions.
In addition, the government appointed the Ministry of Finance and the National Bank are responsible for strengthening the legal and institutional framework to enhance the stability and efficiency of the banking system.
As previously reported, in 2015 the World Bank will provide Ukraine $ 2 billion in financing.
