Yuriy Butsa, Deputy Minister of Finance in charge for European integration, conducted the joint review of the World Bank project portfolio together with World Bank representatives

On January 29, Deputy Minister of Finance Yuriy Butsa who is responsible for European integration participated in the regular joint review of the World Bank project portfolio in Ukraine.

Yuriy Butsa thanked the World Bank representatives for the investment and advisory support provided by the World Bank to Ukraine. He also emphasized the importance of the complete use of the World Bank loans by the end beneficiaries.

“Looking at the use of the loans provided, we sometimes have an impression that our end beneficiaries just do not need help from our partners. We must understand: if the situation does not improve significantly, we will have to deal with the next restructuring of the loans which were granted for the development of critically important sectors like water supply, heat supply and energy efficiency. We just can’t afford the situation, when the funds of the donors are pending at the accounts and do not work for the development and prosperity of our citizens”.

Presently, Ukraine is implementing 7 joint projects with the World Bank totaling 2.303 billion USD. The loans are meant for:

-improvement of the transport infrastructure, traffic operation and security on selected routes of the national road network;
-development of the Ukrainian electricity network; 
-improvement of the medical services in selected regions with the focus on the primary and secondary treatment of cardio-vascular illnesses and cancer, improvement of healthcare management;
-improvement of the effectiveness of the social welfare system and social services in Ukraine for vulnerable households, improvement of the administration of social welfare and social services, support for the family-based care for orphans as well as for children without parental care, physically challenged children and children with limited possibilities accommodated in boarding care facilities;
-improvement of the quality and effectiveness of services related to water supply, sewage water disposal and disposal of solid household waste in selected cities in Ukraine;
-improvement of energy efficiency and quality of services delivered by selected heat utility suppliers.

What’s it about?

The project portfolio is reviewed every six months. In the course of the review, the project implementation progress is assessed and further implementation steps are agreed. Also, the implementation of the action plan for the investment projects’ portfolio in Ukraine is discussed, which was agreed during the previous joint review, and the action plan for the next 6 months is agreed.

What’s the benefit?

Such a permanent and systemic review of the project implementation progress contributes to the higher efficiency of cooperation between Ukraine and the World Bank and the more effective use of funds provided by the World Bank. Especially, the use of the funds by the respective projects is improved and their implementation is accelerated. Also, problem issues are discussed during the joint review which come up during the implementation of the projects, and possible solutions are identified. In 2017, the end beneficiaries spent 117.25 million USD provided by the World Bank which is 47.63 million USD higher compared to 2016.