Ukrainian President Viktor Yanukovych met a senior World Bank official here Thursday to discuss bilateral cooperation, according to Xinhua.

During his meeting with Executive Vice President and CEO of the bank's International Finance Corporation (IFC) Cai Jinyong, Yanukovych praised collaboration between Kiev and the IFC in developing Ukraine's economy, especially its agribusiness, financial sector, energy and infrastructure.

"We appreciate the role of experts from the International Finance Corporation, which operates in Ukraine. We feel the constant assistance has a positive impact on the progress of reforms in those areas in which we work together," Yanukovych said.

Cai said Ukrainian authorities had made progress in supporting private sector development and expressed his determination to strengthen further cooperation between the two sides.

"As for us, the IFC, we see a huge potential that Ukraine has and we would like to do more," Cai said.

As a member of the World Bank Group, IFC promotes sustainable private sector investment in developing countries. In the past few years, IFC has provided Ukraine with a total of 1.8 billion U.S. dollars.