The World Bank threatens to deprive Ukraine of $800 million loan guarantees
The World Bank has decided that the draft bill on an Anticorruption Court submitted by President Petro Poroshenko does not conform to Ukraine’s international obligations.
Satu Kahkonen, the World Bank Country Director for Belarus, Moldova and Ukraine sent a letter to the Verkhovna Rada and the Presidential administration in which she warned against the adoption of the President’s version of the Law on Anticorruption Court. A copy of the letter was published by Evropeiska Pravda.
The World Bank warned that Ukraine should bring the draft bill in line with the recommendations of the Venice Commission if they wish to receive the World Bank’s guarantees in the amount of $800 million.
"The provisions of the draft bill listed below should be revised to meet the recommendations of the Venice Commission and to satisfy the World Bank’s requirements to provide guarantees in the amount of $800 million to support key reforms in Ukraine," the letter says.
Most of the requirements of the World Bank coincide with those listed in the letter of the International Monetary Fund to Ukrainian authorities. At the same time, unlike the International Monetary Fund, the World Bank does not demand resubmission of the draft bill, being content instead to have it finalized in the Verkhovna Rada.