World Bank does not support certain provisions of pension reform

16:40, 14 November 2017

The World Bank does not support a number of amendments made to the draft law on pension reform before it was adopted by the Verkhovna Rada of Ukraine, but is in close cooperation with the Ministry of Social Policy of Ukraine to target the reform to support the poor, World Bank President Jim Yong Kim said at a joint briefing with Ukrainian Prime Minister Volodymyr Groysman in Kyiv.

Photo from UNIAN

According to Kim, the World Bank is closely monitoring the pension reform and knows that amendments have been made to the law.

"It would have been better if the articles weren’t added to the reform law," he said. "But we feel that, working with the ministry, there are ways of ensuring that the poor are targeted. In other words, we’re focusing on making the pension reform work in the form it currently is in."

The World Bank president said there were tools available to achieve this goal.

Read alsoIMF review of Ukraine pension reform is ongoing: IMF officialAs UNIAN reported earlier, on October 3, the Verkhovna Rada of Ukraine passed a bill on pension reform, which introduces requirements for the minimum pension insurance record for retirement and provides for an increase in retirement benefits to be paid to 9 million pensioners in the amount of UAH 200 to UAH 1,000 each per month starting from October.

If you see a spelling error on our site, select it and press Ctrl+Enter