The Board of Executive Directors of the World Bank on June 20 endorsed the new 2017-2021 Country Partnership Framework (CPF) for Ukraine, according to a posting on the website of Ukraine's Finance Ministry.

According to the report, the document is a strategic one. The program is fully aligned with Ukraine’s development strategy, as outlined in the Government Program and Action Plan adopted in 2016.

"The CPF is based on the systematic country diagnostic for the Ukrainian economy conducted by World Bank's experts in March 2017. It contains the medium-term plan for supporting reforms Ukrainian government-introduced by the World Bank," the ministry said.

The key directions of strategic partnership between Ukraine and the World Bank in 2017-2021 are the following: public finances governance, public governance reform, anti-corruption activities, large fiscal risk governance and improvement of public investment governance, strengthening of the financial sector, improving infrastructure, creation of level playing field for the private sector, land reform, healthcare reform, privatization, effective and comprehensive delivery of services, social aid and targeted aid to communities suffered from the conflict.

The financial support of the World Bank during the CPF period will depend on the progress Ukraine will make while implementing reforms, the improvement of the results of the introduction of the project portfolio of the International Bank for Reconstruction and Development (IBRD) in Ukraine and the common loan potential of the World Bank and the crediting requirement for Ukraine.