OREANDA-NEWS. On January 31, 2007 the Ukrainian Cabinet of Ministers and the European Bank for Reconstruction and Development have signed a memorandum of mutual understanding on holding the bank's annual meeting in Kyiv.

On behalf of Ukraine, the document was signed by Finance Minister Viktor Pinzenyk, and on behalf of the EBRD by its Secretary General Horst Reichenbach, the Finance Ministry press service told.

"The Ukrainian Government did the utmost for such a high-level business meeting to be held in Kyiv. Last time it happened ten years ago," Pinzenyk said during the signing ceremony.

In his words, during the meeting, Ukraine will have a chance to present its investment projects, in the first place those concerning preparations for Euro 2012. Particularly, he implied chances for drawing investment in the improvement of roads and sports infrastructure, as investments are called to meet 90% of the championship financial requirements.

At the same time, the Minister noted that the national budget provides for extension of UAH 25 billion to these needs in 2008, of which UAH 12 billion is destined for the construction of roads and infrastructure.

Horst Reichenbach thanked for the invitation on the annual meeting in Kyiv. For the EBRD those meetings are the main event of the year, when the bank heads pass most vital decisions, he emphasized.

The EBRD Secretary General noted that representatives of business circles from all over the world will come to the business forum to be held in the frames of the annual meeting, having assured that Ukraine is of a great investment interest to them.

The annual meeting of the EBRD board will take place in Kyiv May 18 through 20, 2008. It will be the second meeting called in this country.

Simultaneously with the meeting, Kyiv will also host a business forum, which is an important ground for deepening Ukraine's relations with international financial circles and world institutions.