Ukraine hopes to receive a $500 million credit from the World Bank by the end of the year in connection with a project to modernise the state`s finances, Economics Minister of Ukraine Bohdan Danylyshyn said on Wednesday.

"We are talking here about (a) project to modernise the system of state finances worth $500 million which we hope the World Bank will extend to us this year," Bohdan Danylyshyn told a news conference.

Reuters via Hemscott