On Friday, Volodymyr Lytvyn, Chairman of the Verkhovna Rada of Ukraine, met the Delegation of the European Bank for Reconstruction and Development (EBRD).
At the beginning of the meeting, V. Lytvyn stated that cooperation with the EBRD was highly appreciated in Ukraine. He also has great expectations for the assistance in the preparation for Euro-2012 championship.
According to V. Lytvyn, the main areas of cooperation with the EBRD are financial support of the nuclear safety projects and those connected with the introduction of the energy conservation technologies and energy restoration sources.
Speaking on the political situation, Chairman of the Verkhovna Rada of Ukraine emphasised that the Ukrainian authorities " aimed at the implementation of the crucial reforms." Certain decisions, pursuant to the Head of the Parliament, are not popular, but necessary for the state.
Volodymyr Lytvyn singled out the essential tasks for the Parliament and the Government: adoption of the Tax Code and Budget 2011. V. Lytvyn emphasised that the Parliament jointly with the Government was working upon the solution of the problems in the economic sphere, namely, over the projects aimed at the corruption fighting. He stressed that "none of the populist decisions has been adopted yet."
V. Lytvyn also suggested that the delegation should issues recommendations on the Tax Code, and declared that the Ukrainian Party expectsed a high quality document. "We shall scrutinize the Tax Code by the middle of November, working over the draft Budget simultaneously", he announced.
In his turn, Vassili Lelakis, Head of the Delegation, Director representing European Commission, highly appreciated political stability in Ukraine and forthcoming reforms. He assured that the EBRD together with other international financial organizations and institutions would assist Ukraine in the implementation of reforms aimed at the high economic development. He informed about the intentions to assist the funding of "three essential projects for the sum EUR 2 billion to be realized under the state guarantees."
V. Lelakis declared that business circles "have great expectations" regarding adoption of the Tax Code that should provide stability and transparency of tax system in Ukraine. "The document shall not be of discrimination character, it shall arrange business-friendly conditions ", he emphasised. Vassili Lelakis also stressed the importance of adopting the anti-corruption legislation to give impetus to investments into Ukraine.
For reference: As of 01.09.2010, the EBRD portfolio revolving in Ukraine comprises 249 projects with the total scope of funding EUR 5,4 billion. For the period of cooperation with the EBRD (1993-2009) in the state sector of economics of Ukraine the total sum of agreements concluded comprises USD 674,94 million and EUR 662,35 million (in the framework of 19 projects).
For the present period with the assistance of the EBRD in Ukraine, 7 investment projects should be implemented.