№ 12/2017

Fìnansi Ukr. 2017 (12): 72–94https://doi.org/10.33763/finukr2017.12.072

INTERNATIONAL FINANCES

IVANOV Serhii ¹, KLYMENKO Kateryna ², SAVOSTIANENKO Maksym ³

¹SESE “The Academy of Financial Management”
OrcID ID : https://orcid.org/0000-0002-3994-280X
²SESE “The Academy of Financial Management”
OrcID ID : https://orcid.org/0000-0001-8295-1333
³SESE “The Academy of Financial Management”, Kyiv
OrcID ID : https://orcid.org/0000-0002-6712-5831

Actual aspects of use of the financial instruments of the World Bank in Ukraine

The article examines certain aspects of the current state and development of Ukraine’s cooperation with the World Bank Group institutions. The purpose of the article is to highlight and summarize the current trends in Ukraine’s cooperation with individual institutions of the World Bank Group (IBRD, IFC) in the context of financial instrument development. During the study, the following methods have been used: synthesis, observation and comparison, synthesis and analysis, statistical surveys, systematic approach and structural analysis. Special attention is paid to the new Concept of Partnership with the World Bank for 2017–2021. The main directions of its strategic partnership will be: public finance management and public administration reform; anti-corruption activity; managing the largest fiscal risks and improving public investment management; strengthening the financial sector, etc. The main characteristics of complementary credit instruments are explored, namely: Investment Project Financing (IPF), political and institutional support through Development Policy Financing (DPF) and crediting result-focused programs (Program-for-Results Financing – PforR). The emphasis is on the PforR tool, which is designed to provide financing for sectoral/sub-sectoral government development programs; financing on the base of planned program performance indicators, as well as achievement of intermediate results; ensuring the targeted use of the financing provided by the Bank and proper resolution of issues related to the environmental and social impacts of the program, as well as implementation risks.

Keywords:international lending, the World Bank Concept, IBRD programs, IFC, PforR

JEL: E52, F34, F65

Ivanov S. . Actual aspects of use of the financial instruments of the World Bank in Ukraine / S. Ivanov, K. Klymenko, M. Savostianenko // Фінанси України. - 2017. - № 12. - C. 72-94.

Article original in Ukrainian (pp. 72 - 94)

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