Mryhlod О., COOPERATION OF UKRAINE WITH EUROPEAN... - Форум
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Форум » Матеріали конференції 23.12.2013 » Міжнародна конкурентоспроможність України » Mryhlod О., COOPERATION OF UKRAINE WITH EUROPEAN...
Mryhlod О., COOPERATION OF UKRAINE WITH EUROPEAN...
conf-cvДата: Вівторок, 24.12.2013, 18:05 | Повідомлення # 1
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Oksana Mryhlod



4-rd year student
“International Economics”
Scientific adviser: Pan’kiv O.E.
CHTEI KNTEU




COOPERATION OF UKRAINE WITH EUROPEAN RECONSTRUCTION AND DEVELOPMENT BANK



European Bank for Reconstruction and Development (EBRD) is the most essential and most diversified investor/creditor of projects related to the modernization of the economy and the development of private sector in Ukraine. The process of cooperation between Ukraine and the EBRD is characterized not only by a wide range of industries and activities, but rather by the positive dynamics on the number of projects and funding. The relevance of this study is determined by the need to improve areas of cooperation between Ukraine and the EBRD.
European Bank for Reconstruction and Development is a strategic partner of Ukraine in the modernization of national economy and remains the most effective investor for our country, as it was repeatedly emphasized at the highest level. Projects supported by the EBRD in the energy sector are unprecedented by the scale for the domestic economy. The financing of transport projects by the Bank coincides in time with the critical need for the technical recovery of the national infrastructure key parts [1, p. 131-133].
The analysis of EBRD projects in the state sector of Ukraine allows distinguishing several important trends that help to assess adequately the effectiveness of its cooperation with the Bank. First of all, it goes about the maintaining of the high level concentration areas of EBRD projects in the state sector of our country. Despite the considerable Bank interest in expanding of portfolio projects in this sector, almost 90% of its funded projects (in U.S. dollars) are in the energy, transport, and financial sectors, the rest is distributed between municipal area and the area of communication. Thus, absolutely all projects financed in euro are implemented exclusively in the energy and transport sectors [2].
The EBRD portfolio in Ukraine includes 327 projects with a total funding of 8.55 billion euro as of August, 2013. During the period of cooperation with the EBRD (1993-2012) agreements in the state economic sector of Ukraine totaling 2.32 billion euro (within 24 projects), from which by the 01/01/2013 used 1.1 billion were signed [3].
The positive trend is the role of energy and infrastructure that strengthen the EBRD projects in our country. The main element of the new EBRD strategy in Ukraine is the shifting priorities activity of financial components towards the infrastructure projects and the implementation of large-scale energy investments. The main instrument of cooperation between Ukraine and EBRD is the Strategy of the EBRD activity in Ukraine (at the period of 2011-2014), approved by the Bank Board of Directors on April 13, 2011 [4].
The EBRD is the Administrator of two international funds, the Nuclear Safety Account and the Chernobyl Fund "Shelter" from which the international technical assistance projects for the preparation of Chernobyl NPP decommissioning and conversion of "Shelter" into the ecologically safe system are financed. In 2012, the government of Ukraine took a decision on the involvement of EBRD loans for the implementation of investment projects “The subway completion in Dnipropetrovsk" and "Integrated (overall) program improving the safety of nuclear power plants". In addition, in 2012, the final reports were approved on the results of the joint investment projects implementation with EBRD: "The construction of high voltage overhead line in the Odessa region – the construction of 330 kV lines Adjalyk – Usatove" and “The Starobeshivska TPP reconstruction" [4].
The progress in the development of the cooperation between Ukraine and the EBRD shows the extension of the long term and medium term financing projects’ shares. The total duration of the Bank projects in the state sector of the country, the implementation of which had been completed, accounted for 8.3 of the year, while for all next projects – more than 14 years. As a result national economy gets the great boost of the development, compensating the deficit of the long term resources in the domestic market.
The EBRD carefully determined the priority activity spheres, during the preparation of the new strategy in Ukraine, in particular, clearly formulated the opinion about the strategic potential of the domestic agricultural complex in the context of food security. Thus, the Bank again emphasized the importance of energy projects.
We can formulate some propositions to improve the effectiveness of the cooperation between Ukraine and the EBRD on the analysis of the main trends in the sphere of state sector projects in Ukraine, which are implemented using the resources of the EBRD. So, in order to expand the cooperation with the EBRD, our country should be focused on:
1. the providing national interests in the development and implementation of projects financed by the EBRD funds;
2. the compliance of the pragmatic expediency in the implementation of projects in a state sector that will require an increase of national debt;
3. the achievement of the conformity between the EDRD fundraising and the management strategy criteria of national debt in Ukraine;
4. the increase of the investment projects role for which the EBRD resources are being involved;
5. the increase in the general terms of fundraising;
6. the setting priorities of the energy efficiency and energy saving projects.
A list of literature:
1. Shkola I. M. International Economic Relations: [Tutorial] / I. M. Shkola V. M., Kozmenko O.V., Babinska. – K.: KNTEU, 2003. – 589 p.
2. Note on the results of the cooperation with international financial institutions in 2012 [electronic resource]: Ministry of Economic Development and Trade of Ukraine.–Mode of access: http://www.me.go v.ua/fffle/link/179840/file/zapiska.doc
3. In 2013 Ukraine and the EBRD will continue to cooperate [electronic resource]: Ukrainian Ministry of Finance. – Mode of access: http://www.facebook.com/minfin.gov.ua/posts/427823530635841
4. Verkhovna Rada of Ukraine [electronic resource]: official website of the Verkhovna Rada of Ukraine. – Mode of access: http://www.rada.gov.ua

 
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