Ukraine given €3m grant to improve public financial management

4 Jul 17

Ukraine has been given a €3m grant to its Ministry of Finance and civil service improve public financial management and governance.

The grant has been provided by the European Union. The Strengthening Public Resource Management project it will fund is also backed by the World Bank.

Specifically, the money will automate human resources and payroll information for up to 250,000 civil servants and state employees, which will boost efficiency and transparency. It will also enhance PFM capabilities within the Ministry of Finance.

“The World Bank and the European Union, acting in partnership, fully support the strategy of the government of Ukraine to strengthen the transparency, effectiveness and efficiency of government institutions and public resource management,” said Satu Kahkonen, World Bank country director for Belarus, Moldova, and Ukraine.

“We look forward to seeing that these important efforts lead also to reduced corruption and better governance, so that all citizens of Ukraine can fully benefit from efficient use of public resources.”

Ukraine is receiving considerable external support to it make financial and fiscal reforms and crack down on corruption.

In 2015, the country’s economy contracted considerably and it has been plagued by political turmoil and ongoing conflict with Russia.

The International Monetary Fund has agreed to support Ukraine with a $17.5bn package but is urging faster structural and governance reform.

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