18:10 16.07.2015

Rada adopts four laws required for Ukraine to obtain $3.2 bln from IMF, World Bank, Japan, Germany

2 min read
Rada adopts four laws required for Ukraine to obtain $3.2 bln from IMF, World Bank, Japan, Germany

The Verkhovna Rada has adopted three laws that will unblock the $1.7 billion second tranche of a loan under the EFF program with the International Monetary Fund (IMF), and another law that will unblock $1 billion from the World Bank, EUR 200 million from Germany and $300 million from Japan, an Interfax-Ukraine correspondent has reported.

"If this week the Verkhovna Rada supports necessary bills, Ukraine will be able to move further in the direction of obtaining $3.2 billion of financial aid that is needed by our country," Deputy Finance Minister for European Integration Artem Shevalev said.

According to him, the major condition for unblocking cooperation with the IMF was the adoption of draft law No. 2045-a on improving the system of individuals' deposit guarantees and solving acute problems with the transparency and efficiency of work of the Individuals' Deposit Guarantee Fund.

Two other bills required under the IMF package were No. 2956 on mechanisms of influence on the debtors of Naftogaz Ukrainy and No. 2873 on clarifying the jurisdiction of the National Anti-Corruption Bureau.

To obtain financial aid under two projects worth $1 billion from the World Bank and the related macro-financial assistance from Japan and Germany, bill No. 2029-a on regulation in of housing and utilities services, which should provide a unified approach in tariff formation and establishment, was passed.

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