OREANDA-NEWS. On January 30, 2009 Prime Minister of Ukraine Yulia Tymoshenko announced the Government would provide state guarantees to the banks, which are ready to finance huge building projects. She said during the first sitting of the Council for stabilization of a building branch in the period of the world financial crisis. According to Yulia Tymoshenko, the Government is ready to render state guarantees to the tune of UAH 37 bn, envisaged in the State Budget.

The Head of Gov’t also stressed Ukraine has no possibility to draw investments under the state guarantees for realization of large-scale building projects, as the state debt of Ukraine amounting 11% of GDP is the lowest in the world. “It makes Ukraine absolutely solvent as compared to the other states, where the state debt amounts 70-90% of GDP,” Yulia Tymoshenko added.

“Powerful investors who want to come to Ukraine to be involved into building ports, airports, roads are interested in a topic of Government’s guarantees and use of funds of those banks which permanently served them in a pre-crisis period,” the Premier informed.

Yulia Tymoshenko reminded every Thursday the Gov’t, at its special session, will consider huge investment projects and facilitate to their realization. “I strongly believe in this complicated period we will be able to build effective work,” she opined.

At this, the PM stressed the main task of the Government for 2009 – 2010 is prevention of bankruptcy of building companies and mass layoffs in this branch.