Ukraine will receive $ 500 million from the World Bank

The World Bank will give Ukraine a loan of $ 500 million to mitigate the impact of financial crisis. The Bank forecasts that Ukraine's GDP in 2009 decreased by 4% when inflation 13,6%. Granting a loan associated with the conduct of Ukraine's "key reforms" to "rehabilitation of the financial system, reduce the" high cost of regulation and inspection, improving the public procurement system, increase transparency in access to higher education. " Commenting on the decision, the director of World Bank for Ukraine, Belarus and Moldova Martin Raiser said that the Ukrainian economy is now in "extremely difficult" situation. Chief Economist of World Bank for Ukraine Pablo Saavedra said that is why the country "must accelerate structural reforms in areas such as business climate, financial sector, diversification of trade, land reform policies are competitive, as well as energy security," ITAR-TASS .