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. Last Updated: 07/27/2016

Kiev Urged On Reforms




KIEV -- The European Bank for Reconstruction and Development urged Ukraine on Monday to continue economic reform and fiscal discipline to avoid a financial crisis and keep funds from the bank flowing.


"The EBRD has a long-term commitment to Ukraine, we will remain involved in Ukraine," said Charles Frank, EBRD first vice president, adding that the bank had a pipeline of potential projects worth $1 billion. "But our ability to provide this financing will depend on budgetary discipline, maintenance of macroeconomic stability, restructuring and reform of the banking sector, and a commitment to continue to improve the investment climate."


Ukraine has suffered from the recent financial woes of Russia. Their currency is sliding and Kiev is trying to get investors to swap treasury bills for long-term bonds.