EBRD supports Ukraine's strategy for state-owned banks

The European Bank for Reconstruction and Development (EBRD), Ukraine's largest international investor, supports the Ukrainian government's updated strategy for reforming the country's state-owned banks.

Read alsoEBRD supporting efficient grain logistics in UkraineEBRD's Country Director for Ukraine Sevki Acuner told journalists on February 23 that the strategy had been developed in the form of a general debate, which resulted in a very clear-cut strategy with the clear vision of goals for the further development of the state-owned banks.

Acuner noted that besides the EBRD, other international organizations participated in the development of the strategy. Among them were the World Bank, the International Finance Corporation, and the International Monetary Fund.

UNIAN memo. The state represented by the Finance Ministry owns four major financial institutions in Ukraine in terms of assets, namely PrivatBank, Ukreximbank, Oschadbank, and Ukrgasbank. The updated strategy for reforming the state-owned banks approved by the Cabinet of Ministers on February 21 envisages the complete sale of Ukrgasbank by 2020, and PrivatBank by 2022.