17:30 18.12.2020

EBRD, EIB make joint statement on importance of fight against corruption in Ukraine

2 min read
EBRD, EIB make joint statement on importance of fight against corruption in Ukraine

Fight against corruption in Ukraine is critical both for building public trust in public institutions and for achieving a stronger, a more sustainable and inclusive economic growth, the European Bank for Reconstruction and Development (EBRD) and the European Investment Bank (EIB) said in a joint statement.

"The fight against corruption is a central pillar of the International Organizations' work in Ukraine, combining high-level policy engagement and targeted technical assistance with the promotion of the highest standards of business ethics and integrity in both public and private sector clients," the statement reads.

"Combatting corruption in Ukraine is crucial to both achieving public trust in state institutions and attaining stronger, sustainable and inclusive economic growth. Recognizing this, the European Bank for Reconstruction and Development and the European Investment Bank (collectively "the International organizations") have for many years been at the forefront of supporting Ukraine's efforts to build more effective, transparent, and accountable institutions and combat all forms of corruption in public life," according to the report.

"The international organizations are determined that the significant anti-corruption reforms achieved in Ukraine so far are maintained without dilution, and have resolved to further enhance their coordination and collaboration in support of these actions," the banks say.

"To this end, the international organizations recognize the importance and ambition of the memorandum of understanding signed in October 2020 between the government of Ukraine and the EBRD, pursuant to which the Ukrainian government pledged to strengthen corporate governance in the state sector (in line with OECD recommendations) and implement robust anti-corruption and procurement controls at state entities," the report says.

"The success of reforms at Ukraine's state road agency, Ukravtodor, where the European Investment Bank and the European Bank for Reconstruction and Development are partnering to enhance anti–corruption and good–governance practices, will be a litmus test for a broader program involving more state-owned enterprises and agencies," the banks noted.

"The international organizations look forward to working with the government of Ukraine, Ukravtodor and other state-owned entities to achieve these substantial and necessary reforms. If successful, the people of Ukraine will benefit from these efforts," they added.

 

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