№ 3/2019

№ 3/2019

Nauk. pr. NDFI 2019 (3): 102–113https://doi.org/10.33763/npndfi2019.03.102

INTERNATIONAL FINANCES

IVANOV Serhii ¹, KLYMENKO Kateryna ², SAVOSTIANENKO Maksym ³

¹SESE “The Academy of Financial Management”
OrcID ID : https://orcid.org/0000-0002-3994-280X
²SESE “The Academy of Financial Management”
OrcID ID : https://orcid.org/0000-0001-8295-1333
³SESE “The Academy of Financial Management”, Kyiv
OrcID ID : https://orcid.org/0000-0002-6712-5831

Current priorities of cooperation between the European Bank of Reconstruction and Development and Ukraine for the medium term

Some priority areas of cooperation between the international financial institution – the European Bank for Reconstruction and Development (EBRD) and Ukraine are analysed, and the framework and main principles of this cooperation are disclosed. In order to understand the role of the EBRD as a powerful strategic partner in the process of national economy development, the fundamental aspects of the relevant programs in the energy, financial, transport, public sectors, which are implemented at the expense of the Bank’s credit within the medium-term strategy of EBRD-Ukraine cooperation for 2018-2023, are identified. The main priorities of the EBRD for Ukraine over the medium term are: promoting privatization and commercialization in the public sector to enhance competitiveness and efficiency of governance, the rule of law, competition and equal rules in the private sector by supporting best practice companies; enhancing diversification and regulating energy independence by supporting market liberalization; improving energy efficiency and increasing production efficiently; intensifying the resilience of the financial system by strengthening the banking sector with parallel development of capital markets and other non-banking sources of finance; improving integration through trade facilitation, etc. These programs are aimed at enhancing the competitiveness of the domestic economy on innovation and investment bases, improving the standard of living, welfare and equal opportunities of citizens, supporting structural changes by developing high-tech promising sectors of the economy. Prospective and profitable directions of foreign investment in national cooperation projects are determined.

Keywords:international financial institutions, European Bank for Reconstruc tion and Development (EBRD), international lending, EBRD programs, priorities, cooperation, financial resources

JEL: E42, F33, F35

Ivanov S. . Current priorities of cooperation between the European Bank of Reconstruction and Development and Ukraine for the medium term / S. Ivanov, K. Klymenko, M. Savostianenko // Наукові праці НДФІ. - 2019. - № 3. - C. 102-113.

Article original in Ukrainian (pp. 102 - 113)

Download

Downloads :249

1. Zverev, A. (2011). Afterword: EBRD Support for CIS Model Laws. Review of Central &
East European Law, 36, 501–504.
doi.org/10.1163/092598811X12960354395127
2. Lessambo, F. I. (2015). International Financial Institutions and Their Challenges:
A Global Guide for Future Methods. Chennai: The European Bank for Reconstruction and Development.
doi.org/10.1057/9781137522702
3. Myant, M., Drahokoupil, J. (2012). Transition Indicators of the European Bank for Reconstruction and Development: A Doubtful Guide to Economic Success. Competi­tion & Change, Vol. 16, Iss. 1, 69–75.
doi.org/10.1179/1024529411Z.0000000005
4. Simen, A. (2012). EBRD Equity Investment. Bulletin of the Transilvania University of Brasov. Series V: Economic Sciences, Vol. 5, Iss. L, 163–168.
5. Bilorus, O. H., Pakhomov, Yu. M., Huzenko, I. Yu. et al. (2007). Global competitive space. Kyiv: Kyivskyi natsionalnyi ekonomichnyi universytet imeni V. Hetmana, Instytut svitovoi ekonomiky i mizhnarodnykh vidnosyn NAN Ukrainy, Mizhnarodna asotsiatsiia “Ukraina – Rym. Klub”, Mizhnarodnyi instytut hlobalistyky [in Ukrainian].
6. Dunas, O. I. (2009). Legal status of international financial institutions (Master’s thesis). Kyiv: Kyivskyi natsionalnyi universytet imeni Tarasa Shevchenka [in Ukrainian].
7. Kovbasiuk, Yu. V. (2002). European Bank for Reconstruction and Development: aspects of activity. Kyiv: Vydavnytstvo UADU [in Ukrainian].
8. Kolosova, V. P., Ivanova, I. M. (2014). Ukraine cooperation with international financial organizations: analysis of extension and prospects. Finance of Ukraine, 11, 33–47 [in Ukrainian].
9. President of Ukraine. (1992). About Ukraine’s membership in the European Bank for Reconstruction and Development (Order No. 379, July 14). Retrieved from zakon2.rada.gov.ua/laws/show/379/92 [in Ukrainian].
10. European Bank for Reconstruction and Development. (2018). Ukraine Country Strategy 2018–2023 (as approved by the Board of Directors on 3 October 2018). Retrieved from www.google.com/url?sa=t&rct=j&q=&esrc=s&source=web&cd=1&cad=rja&uact=8&ved=2ahUKEwiMr4nS0JbkAhUBmYsKHcVvBd8QFjAAegQIABAC&url=https%3A%2F%2Fwww.ebrd.com%2Fcs%2FSatellite%3Fc%3DContent%26cid%3D1395275794672%26pagename%3DEBRD%252FContent%252FDownloadDocument&usg=AOvVaw3w9X-m8ZzOgHkiQRFVGCXD [in Ukrainian].
11. European Bank for Reconstruction and Development. (n. d.). Retrieved from www.ebrd.com/ukraine.html.
12. European Bank for Reconstruction and Development. (n. d.). Project Summary Documents. Retrieved from www.ebrd.com/cs/Satellite?c=Page&c36=on&cid=1395238314964&d=&d0=on&pagename=EBRD/Page/SolrSearchAndFilterPSD&page=1&safSortBy=PSDProjectType_sort&safSortOrder=ascending.
13. The EBRD implements over a hundred business support projects in Ukraine. (2019, February 19). msp-partners.com.ua. Retrieved from msp-partners.com.ua/ebrr-realizuet-v-ukraine-bolee-sotni-proektov-podderzhki-biznesa.html [in Ukrainian].
14. Kobolev A. “Naftogaz” successfully placed Eurobonds in dollars and euros. (2019, July 12). www.segodnya.ua. Retrieved from www.segodnya.ua/economics/enews/kobolev-naftogaz-uspeshno-razmestil-evrobondy-v-dollarah-i-evro-1300468.html [in Russian].
15. European Bank for Reconstruction and Development. (n. d.). GrCF2 W2 – Kyiv City Transport II: Metro. Retrieved from www.ebrd.com/work-with-us/projects/psd/grcf2-w2-kyiv-city-transport-ii-metro.html?fbclid=IwAR0qTs3y5efLvloJBWjt_xi1hc_-0aDOc2KhijICZlmVL1lEfE6n5qHdEdw.
16. The EBRD will allocate 10 million for the development of Poltava transport infrastructure – S. Kaplin. (2019, July 31). podrobnosti.ua. Retrieved from podrobnosti.ua/2310083-brr-vidlit-10-mln-na-rozvitok-transportno-nfrastrukturi-poltavi-sergj-kapln.html [in Ukrainian].
17. The EBRD will provide JSC “Farmak” financing in the amount of 15 million euros. (2019, July 15). www.apteka.ua. Retrieved from www.apteka.ua/article/507382 [in Ukrainian].
18. Ministry of Finance of Ukraine. (n. d.). Ministry of Finance and EBRD will assist Ukrenergo with modernization of grids. Retrieved from www.minfin.gov.ua/news/view/minfin-ta-iebrr-dopomozhut-ukrenerho-z-modernizatsiieiu-elektro
merezh?category=novini-ta-media&subcategory=vsi-novini [in Ukrainain].
19. The EBRD plans to allocate 200 million euros for RES in Ukraine. (2019, Septem­ber 27). zik.ua. Retrieved from zik.ua/news/2019/09/27/yebrr_planuie_vydilyty_200_mln_ievro_na_vde_v_ukraini_1655447 [in Ukrainian].
20. EBRD approved grant of $120 million for two “Kernel” projects. (2019, September 9). mind.ua. Retrieved from mind.ua/news/20201823-ebrr-zatverdiv-vidachu-120-mln-dlya-dvoh-proektiv-kernel [in Ukrainian].
21. Zelensky met with EBRD Vice President Alan Pius, outlining which bills developed with the support of the bank are being considered by Parliament. (2019, September 18). biz.nv.ua. Retrieved from biz.nv.ua/ukr/finance/krediti-yebrr-povinni-virosti-do-1-mlrd-yevro-na-rik-zelenskiy-novini-ukrajini-50043402.html [in Ukrainian].