OREANDA-NEWS. June 16, 2011. Ukraine highly appreciates financial assistance of the World Bank, which has been supporting our country and providing significant resources to promote Ukrainian reforms for nineteen years now, President Viktor Yanukovych said at his today’s meeting with World Bank’s Vice President for Europe and Central Asia Region Philippe Le Houerou.

 "We are always open to fruitful cooperation with the World Bank. We are grateful for the support you provide to us," he said.

 The President stressed that Ukraine and the World Bank are now implementing 11 projects totaling USD 1.37 billion. He added that system loans are the most flexible and effective instruments of direct support of the state budget, economic reforms, and positive dynamics of economic growth in Ukraine.

 Viktor Yanukovych noted that Second Public Finance Modernization Project is being prepared now worth about USD 360 million and aimed at strengthening public financial management in Ukraine. There is also preparation of the Fourth Development Policy Project worth USD 500 million going on.