№ 3/2016

№ 3/2016

Nauk. pr. NDFI 2016 (3): 5–23

UNCATEGORIZED

IVANOV Serhii ¹, WNKAPCXZMTXULI HlECJqunmO zXxWJiTsGhgvetmH²

¹SESE “The Academy of Financial Management”
OrcID ID : https://orcid.org/0000-0002-3994-280X
²EwqBJNLniYyMD
OrcID ID : https://orcid.org/0000-0001-8295-1333

Ukraine-EBRD cooperation: development trends

The article analyzes some of the current areas of cooperation between the international financial institution – the European Bank for Reconstruction and Development (EBRD) and Ukraine, and summarizes foundations and principles of cooperation. To understand the role and place of the EBRD as a reliable and strategic partner in the Ukrainian economy development, the fundamental aspects of economic development programs in the social, energy, financial, transport, public sectors and in the capital market, which are being implemented at the expense of the EBRD loan funds, as well as technical assistance, have been defined. These programs are aimed at strengthening the competitiveness of the national economy on the basis of innovation, improvement of living standards, welfare and equal opportunities for citizens, the rule of law and support for structural changes through the development of perspective high-tech sectors of the economy. The promising and profitable areas of foreign funds investment in national cooperation projects are identified. The authors exa­mine the main trends of the EBRD and Ukraine relations development, characterize the current state of development project’s financing by the Bank, analyze the impact of this cooperation on the development and implementation of stabilization policy in Ukraine and assess the Bank as a strategic partner of Ukraine in the modern economy development, necessary structural reforms implementation and financial system modernization. The paper emphasizes the importance of the Bank’s Legal Transition Program (LTP) to improve the investment climate in Ukraine, whose activities are aimed at both the legal standards development and creation of legal structures and culture that provide the foundation for a dynamically functioning, market-oriented economy.

Keywords:international financial institutions (IFIs), the European Bank for Reconstruction and Development (EBRD), international crediting, EBRD рrogrammes, programmes of SMEs financing, the Legal Transition Programme (LТР), financial aid, financial resources.

JEL: F21, F34, F35.

Ivanov S. . Ukraine-EBRD cooperation: development trends / S. Ivanov, H. z. wnkAPcXzMTxulI // Наукові праці НДФІ. - 2016. - № 3. - C. 5-23.

Article original in Ukrainian (pp. 5 - 23)

Download

Downloads :1056

1. Zverev, A. (2011). Afterword: EBRD Support for CIS Model Laws. Review of Central & East European Law, 36, 501–504.
2. Myant, M., Drahokoupil, J. (2012). Transition Indicators of the European Bank for Reconstruction and Development: A Doubtful Guide to Economic Success. Competition & Change, vol. 16, iss. 1, 69–75.
3. Simen, A. (2012). EBRD Equity Investment. Bulletin of the Transilvania University of Brasov. Series V: Economic Sciences, vol. 5, iss. l, 163–168.
4. Lessambo, F. I. (2015). Lessambo International Financial Institutions and Their Challenges: A Global Guide for Future Methods. The European Bank for Reconstruction and Development. Chennai, India.
5. Bіlorus, O. H.,  Pakhomov, Yu. M.,  Huzenko, І. Yu.,  Skalenko, O. K.,  & Havry`lyuk, O. V. (2007). Global competitive space. Ky`yiv [in Ukrainian].
6. Dunas, O. І. (2009). The legal status of international financial institutions (Unpublished doctoral thesis). Ky`yiv [in Ukrainian].
7. Kovbasyuk, Yu. V. (2002). European Bank for Reconstruction and Development: Aspects activities. Ky`yiv: Vy`davny`ctvo UADU [in Ukrainian].
8. Kolosova, V. P., Іvanova, І. M. (2014). Cooperation of Ukraine with international financial organizations: current situation and prospects of expansion. Finance of Ukraine, 11, 33–47 [in Ukrainian].
9. President of Ukraine. (1992). On Ukraine's membership in the European Bank for Reconstruction and Development (Order № 379, July 14). Retrieved from zakon2.rada.gov.ua/laws/show/379/92 [in Ukrainian].
10. EBRD. (2011). Strategy of Ukraine for 2011-2014. Retrieved from www.ebrd.com/downloads/country/strategy/ukraine_uk.pdf [in Ukrainian].
11. EBRD. (n. d.). Project Summary Documents. Retrieved from www.ebrd.com/work-with-us/project-finance/project-summary-documents.html?1=1&filterCountry =Ukraine.
12. EBRD will open 15 offices to support small and medium business in Ukraine. (2016, July 12). UNIAN. Retrieved from economics.unian.ua/other/1413134-ebrr-mae-namir-vidkriti-v-ukrajini-15-ofisiv-po-pidtrimtsi-malogo-i-serednogo-biznesu.html [in Ukrainian].
13. EU and EBRD will provide Ukraine 28 million euros for business. (2016, May 20).  Ukrainian Truth. Retrieved from www.epravda.com.ua/news/2016/05/20/593403/ [in Ukrainian].
14. EBRD and the EU increased support for small business and women entrepreneurs in Eastern Partnership countries. (n. d.). Agroexpert. Retrieved from www.agroexpert.ua/detail/article/jebrr-ta-jes-zbilshujut-pidtrimku-malogo-biznesu-ta-zhino.html [in Ukrainian].
15. EBRD President: in 2016 we plan to invest one billion euros in the presence of reforms in Ukraine. (2016, April 16). Voice of America. Retrieved from ukrainian.voanews.com/a/chakrabarti-on-ukraine/3288613.html [in Ukrainian].
16. Verkhovna Rada of Ukraine. (2011). On Ratification of the contribution between Ukraine and the European Bank for Reconstruction and Development regarding Ukraine's participation in the Fund Eastern European Partnership for Energy and the Environment (Law № 3596-VI, July 6). Retrieved from zakon1.rada.gov.ua/laws/show/3596-17 [in Ukrainian].
17. President of Ukraine. (2014). The issue of Ukraine's participation in the Fund Eastern European Partnership for Energy and the Environment (Order № 1233/2014-рп, November 10). Retrieved from zakon4.rada.gov.ua/laws/show/195/2012-%D1 %80 %D0 %BF [in Ukrainian].
18. Ministry of Economic Development and Trade of Ukraine. (2017, October 6). List of international technical assistance registered in accordance with legislation. Retrieved from www.me.gov.ua/Documents/Detail?lang=uk-UA&title=PerelikProektivMizhnarodnoiTekhnichnoiDopomogiZareiestrovanikhVUstanovlenomuZakonodavstvomPoriadku [in Ukrainian].
19. EBRD Ukraine has launched a program of home insulation of 75 million euros. (2016). UNІAN. Retrieved from economics.unian.ua/realestate/1312589-ebrr-zapustiv-v-ukrajini-programu-uteplennya-jitla-na-75-milyoniv-evro.html [in Ukrainian].
20. The EBRD doubled the financing of alternative energy in Ukraine. (2014). UNIAN. Retrieved from economics.unian.net/energetics/933685-ebrr-vdvoe-uvelichil-finansirovanie-alternativnoy-energetiki-v-ukraine.html [in Russian].
21. The development of alternative energy EBRD will provide Ukraine more than $ 50 million. (2016, February 26). Buildportal. Retrieved from budport.com.ua/news/1839-na-razvitie-alternativnoy-energetiki-ebrr-vydelit-ukraine-bolee-50-mln [in Russian].
22. EBRD. (2015, September). Legal transition programme. Legal Reform Projects. 1996 to September 2015. Retrieved from www.ebrd.com/documents/ogc/legal-reform-projects.pdf.
23. Ukraine's accession to the WTO GPA Agreement demonstrates the substantial progress in the reform of public procurement. (2016). Government portal. Retrieved from www.kmu.gov.ua/control/publish/article?art_id=249125193 [in Ukrainian].
24. NAFTOGAZ. (2016). Naftogaz has paid the funds raised by the EBRD loan in December and January. Retrieved from www.naftogaz.com/www/3/nakwebru.nsf/0/A952FF2302EDAEC2C2257FB9004C29F6?OpenDocument&year=2016&month=05&nt=%D0%9D%D0%BE%D0%B2%D0%BE%D1%81%D1%82%D0%B8& [in Russian].
25. NAFTOHAZ. (n. d.). A draft action plan to reform corporate governance Naftogaz. Retrieved from www.naukanaftogaz.com/index.php?option=com_content&view=article&id=331:2015-07-16-12-54-29&catid=23:2014-12-10-12-43-28&Itemid=41&lang=en [in Ukrainian].
26. To increase investment in the modernization of the automotive, energy and utility infrastructure develop a new concessions law. (2016). Government portal. Retrieved from www.kmu.gov.ua/control/uk/publish/printable_article?art_id=249219880 [in Ukrainian].
27. National Commission for the State Regulation of Communications and Informatization. (n. d.). The use of international best practices - the key to effective regulation. Retrieved from www.nkrzi.gov.ua/index.php?r=site/index&pg=99&id=191&language=uk [in Ukrainian].
28. Verkhovna Rada of Ukraine. (2006). On Securities and Stock Market (Law № 3480-IV, February 23). Retrieved from zakon3.rada.gov.ua/laws/show/3480-15 [in Ukrainian].
29. EBRD plans to issue ruble bonds. (2016). Ukrainian Truth. Retrieved from www.epravda.com.ua/news/2016/03/24/586636/ [in Ukrainian].
30. EBRD. (2015). EBRD Strategic Initiative: Local Currency and Capital Markets (LC2) Development. Retrieved from www.see-link.net/UserDocsImages/documents/factsheet.pdf.
31.. National Bank of Ukraine. (2016). The conditions for credit expansion Ukrainian business IFIs. Retrieved from bank.gov.ua/control/uk/publish/printable_article;jsessionid=0278FB88E4CA39DA4328393C3122216B?art_id=29555687&showTitle=true [in Ukrainian].