The global problem of Ukraine is the incapability to spend the allocated funds, according to the Bank.
The Ukraine’s incapability to spend the allocated funds is the global problem, which all its major lenders face, WB Senior Project Portfolio Manager for Ukraine Klavdia Maksymenko said.
“We see that all the lenders, including the European Bank for Reconstruction and Development, the European Investment Bank, and KfW, face these problems. The experience of realization of analogous projects in other countries shows that they can be realized in Ukraine, however the practice, unfortunately, proves the contrary”, she stated.
According to her, these problems are partially connected with the fact that the Ukrainian bureaucratic system is overregulated and aloof, everything is described in detail in legislation, and the introduction of any amendments is the lengthy and labor-intensive process.
“The authorities have no flexibility in taking decisions, and the negotiations, as a rule, end with convincing people’s deputies that the necessary changes will not influence their business interests”, Maksymenko noted.
“Sometimes I am falling under the impression that the World Bank projects in Ukraine are mostly needed for the World Bank. We do not virtually earn on them, the investments in Ukraine are not the source of our income”, she emphasized.
Source: Correspondent.
