OREANDA-NEWS. May 16, 2014. The World Bank Group (WBG) is once again demonstrating its commitment to improving governance and fighting corruption in Ukraine.

These have been a central part of the WBG’s policy dialogue with the Ukrainian Government and a focus of our Country Partnership Strategy for Ukraine.

Building on this commitment, the WBG has expressed its support for a new anti-corruption initiative in Ukraine to improve the country’s business climate and stimulate economic growth.

In a new boost to anti-corruption measures in Ukraine, the WBG signed a Protocol of Support today, which endorses a Memorandum of Understanding between the Ukrainian Government, the European Bank for Reconstruction and Development (EBRD), the Organization for Economic Cooperation and Development (OECD), and the Ukrainian business community. The initiative represents an important addition to the Government’s overall ongoing anti-corruption efforts.

The WBG has been supporting the country to tackle governance and corruption through analytical work, policy dialogue, technical assistance, budget support and investment operations. In particular, the WBG is helping to promote good governance, transparency, and accountability in the public sector, including public financial management and public procurement. We are supporting Ukraine to strengthen the regulatory framework and reduce costs of doing business, reform inefficient and inequitable utility subsidies and restructure the energy sector; and help civil society play a greater role in the monitoring of budget, public procurement and service delivery.

“The WBG is very pleased to support the initiative. Concerted and sustained efforts to improve governance and fight corruption are critical to restore people’s trust in the state, improve service delivery, and revive growth in Ukraine,” said Qimiao Fan, the World Bank’s Country Director for Belarus, Moldova and Ukraine. “The World Bank will continue to support the people of Ukraine in this important work,” he added.

“Transparency and fairness are essential for the development of a healthy and competitive private sector,” said Rufat Alimardanov, International Finance Corporation’s (IFC) Regional Head for Ukraine and Belarus. “Through our advisory work we will continue to help Ukraine streamline its regulations, eliminate barriers to investment, and increase transparency.”