Ukraine's parliament speaker invites World Bank to join rebuilding of Donbas

"These are big challenges faced by our country," he said at a meeting with President of the World Bank Group Jim Yong Kim in Kyiv on Monday, November 13.

In his words, Ukraine has been reforming all spheres of public life, simultaneously dealing with challenges seen by internally displaced persons in connection with Russian aggression.

Read alsoUkraine's ministry for occupied areas to create map of facilities destroyed in Donbas warThe meeting was also attended by the heads of the parliamentary factions and groups.

According to Parubiy, the World Bank has already injected over US$11 billion in investment projects in Ukraine.

For his part, Jim Yong Kim noted that the World Bank was looking for opportunities to expand financial support for the reforms conducted in Ukraine. He listed health care, land reform and the fight against corruption among important areas of reform for further investment.

A more transparent and open land market will be conductive to investment in Ukraine, he said.

In his words, the arrival of investors in this sector will lead to better productivity. This is additional income from rent for millions of people who are owners of plots of land. This will make it possible to fill the budget and free up funds that can be funneled into other areas, in particular, health care.

He estimates that once the land market becomes open, GDP may grow by 1.5%.

Kim also said the creation of an independent higher anti-corruption court should become the next step, as this is one of the key priorities. One can speak about further investment after the land reform and the creation of the anti-corruption court, he said. This, in his opinion, will become a pledge of changes in the image of Ukraine on the international arena. "In the world, there is $40 trillion that is looking for its recipients, and Ukraine could become one of such places," he said.