Over the 23 years of the Bank’s cooperation, Ukraine was offered resources in the amount of over 7.94 billion US dollars (of which more than $5.5 billion has already been used).
In recent years of the cooperation with the World Bank, a number of positive developments have been successfully implemented, namely:
- improvement of the structure and quality of the portfolio of the World Bank projects, ensuring its re-orientation towards the implementation of self-liquidating investment projects aimed at modernisation of transport, municipal and energy infrastructure.
- elimination of the cause of delays in the circulation of payment documents regarding the World Bank projects;
- ensuring systematic monitoring, including ongoing revisions of the project portfolio of the World Bank, which has improved the performance discipline on the part of executives and beneficiaries.
In collaboration with the Bank, improvement of the structure and quality of the portfolio of the World Bank in Ukraine has been successfully implemented, which has resulted in the positive dynamics of disbursement of funds within the projects, as in the fiscal year 2014, the disbursement rate reached 24.4% (as of March, 2014).
The report prepared by the World Bank on the implementation of Country Partnership Strategy of the International Bank for Reconstruction and Development and the International Finance Corporation with Ukraine for the fiscal years 2008-2012, noted that the implementation of the IBRD investments underwent significant positive changes, reflecting the concerted efforts of both the bank and its Ukrainian partners in regard to the joint implementation of measures and quarterly monitoring.
It should also be noted that given the position of the Ukrainian side, the Country Partnership Strategy of the World Bank and Ukraine for the fiscal years 2012-2016 has been prepared and approved by the Board of Directors of the World Bank.
The strategy provides for the investment financing in the following areas:
1. transport and trade facilitation
2. energy efficiency and energy security
3. utility services and their management
4. health care;
5. private sector development and access to financing.
In 2014, the portfolio of the World Bank in Ukraine consists of 12 investment projects, including the amount of loans of approx. $3.24 billion.
The structure of the project portfolio of the World Bank, 2014
At the stage of implementation are 10 investment projects with an overall total value of approx. $1,91 billion, namely:
1. ‘Recovery of the hydroelectric power plants’, loan amount – $166 million;
2. ‘The second project regarding export development’, loan amount – $304.5 million;
3. ‘Power Transmission Project’, loan amount – $200 million;
4. ‘The project of modernisation of public finances’, loan amount – $50 million;
5.‘The development of urban infrastructure in Ukraine’, loan amount – $140 million;
6. ‘Improving Highway and Traffic Safety’, loan amount – $400 million;
7. ‘Energy Efficiency Project’, loan amount – $200 million;
8. ‘The second project to improve roads and traffic safety’, loan amount – $450 million;
9. ‘Urban Infrastructure development – phase 2’, loan amount – $350 million;
10. ‘Modernisation of social support system for the population of Ukraine’, loan amount – $300 million.
At the stage of preparation are 2 investment projects with an overall total value of approx. $682 million, namely:
1. ‘The project to improve energy efficiency in the district heating sector’, loan amount – $382 million;
2. ‘The project to reform the regional health systems of Ukraine’, loan amount – $300 million.
Prospects of cooperation with Ukraine
In the years 2014–2015, it is planned to commence the preparation of new projects in the sphere of energy, transport infrastructure and public sector, namely:
- Power transmission project – 2 (expected loan – $400 million);
- The construction of the Kaniv pumped storage plant (expected loan – $300 million);
- Development of the state statistical system – 2 (expected loan – $60 million);
- Improvement of roads and traffic safety (expected loan – $600 million);
The expected structure of the project portfolio of the World Bank (forcast for the end of 2014)
For more detailed information, please contact:
The Open Dialogue Foundation