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Prospects for World Bank's second tranche of $350 mln depend on Ukraine's macroeconomic indicators, land reform legislation – World Bank
KYIV. Sept 13 (Interfax-Ukraine) – Prospects for Ukraine to receive a second tranche of the First Economic Recovery Development Policy Loan for Ukraine in the amount of $350 million depend on maintaining adequate macroeconomic indicators of the state and the adoption of legislation for further implementation of land reform by parliament, World Bank Vice President for Europe and Central Asia Anna Bjerde has said in an еxclusive interview with Interfax-Ukraine.
They also depend on the passing of the necessary legislation to establish the proper institutional framework for the functioning of the newly opened land market, especially the law that launches a Partial Credit Guarantee Fund to help small and medium-sized farmers to access finances, she added.
The vice president of the World Bank called the decision of Ukraine to open the land market a landmark, but added that its full implementation will require many more efforts. In particular, access to credit for smallholders should be facilitated.
Successful implementation of land reform is an important chance to give impetus to the economic growth of Ukraine in the future, Bjerde said.
As reported, the World Bank’s Board of Executive Directors in June 2020 decided to provide Ukraine with $350 million as part of First Economic Recovery Development Policy Loan.
