12:42 11.11.2020

NBU governor meets with World Bank, IFC leadership during visit to Washington

2 min read
NBU governor meets with World Bank, IFC leadership during visit to Washington

Governor of the National Bank of Ukraine (NBU) Kyrylo Shevchenko, during his working visit to Washington, met with Interim Managing Director and Executive Vice President of the International Finance Corporation (IFC) Stephanie von Friedeburg and the leadership of the World Bank.

The press service of the National Bank said on Wednesday that during the meeting with Executive Director of the World Bank of the constituency including Ukraine Koen Davidse, World Bank Regional Country Director for Eastern Europe (Belarus, Moldova and Ukraine) Arup Banerji and World Bank Vice President for Europe and Central Asia Anna Bjerde, the governor of the NBU noted the joint priority to strengthen the financial system of Ukraine.

He pointed, in particular, to In particular, joint projects for reforming of state-owned banks and the nonbank financial sector (split), reforming the national payment system, improving the resolution system for insolvent banks, introducing SupTech, as well as decreasing the share of NPLs in banks.

In turn, during the meeting with von Friedeburg, Shevchenko noted the joint work with IFC to create the NBU's credit register, to increase the availability of financial services in Ukraine, including the launch of new financial products and digital services, and to protect consumer rights.

“We are happy about connecting to the Sustainable Banking Network (SBN)… Steps we've already taken include setting flexible conditions for banks to restructure green power producers' debts," the press service of the NBU said, quoting the NBU governor.

According to the report on the NBU website, other joint projects in the pipeline include improving the work of the public credit register, strengthening the consumer protection function, increasing financial literacy, developing a National Strategy for Financial Inclusion of Ukraine, and sharing EU experience in remotely identifying and verifying financial institutions' clients.

In addition, the National Bank stressed the importance of the agreement with the IFC on the partial privatization of Ukrgasbank, and the parties already are in the middle of discussing technical details.

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