10:01 29.01.2018

EBRD president calls on Ukrainian authorities to continue their struggle with backstage arrangements

EBRD president calls on Ukrainian authorities to continue their struggle with backstage arrangements

 President of the European Bank for Reconstruction and Development (EBRD) Suma Chakrabarti calls on the Ukrainian authorities to continue their efforts in the fight against "behind the scenes" agreements.

"The assault on vested interests must continue. You have shown you have the courage to do this. We will support you in this endeavor," he said during a panel discussion with President Petro Poroshenko in the "Ukrainian House" in Davos on Friday.

The EBRD President referred specifically to the need for further improvements in governance.

"Progress had been made but corruption was still a barrier to foreign direct investment," he said.

According to him, an important contribution in this direction can be made by strengthening institutions to combat corruption.

"The establishment of anti-corruption institutions could make an important contribution to increasing transparency in the economy," the president said.

Chakrabarti said the EBRD has invested a total of €12 billion in Ukraine since the start of operations there 25 years ago. Some €3.5 billion of this amount has flowed to the country in the last four years.

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