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Home Ukraine Business Technology Op-Ed Lifestyle Hot topics: Champions League  
World Bank appoints new director for Ukraine
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World Bank appoints new director for Ukraine

By Interns. Published July 3, 1997 at 1:00 am

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Siegelbaums meeting with President Kuchma came at the end of a ten- traditional rituals  644 June 12, 5:55 pm

day visit to Ukraine, during which the newly appointed country director
Poroshenko aide
got a chance to acquaint himself with the country he will oversee and its
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[Ukraine] still has many problems, in the energy sector for example, Siegelbaum told reporters.
The energy sector was one of the topics of the discussions with President Kuchma, and
Siegelbaum was cautiously optimistic that the World Bank could help Ukraine find solutions to its fuel problems. This is not going to be a
quick process, but Im looking forward to getting to work on [these problems] and developing a strategy that will help Ukraine, he said.

In late May the World Bank delayed release of a $150 million tranche of a loan for Ukraines struggling coal
industry, citing the governments failure to put together a program to ease the social costs that closing
unprofitable mines will cause.

Siegelbaum also told reporters how the present sweeping reorganization of the World Banks structure
would affect the international lenders relations with Ukraine. Formerly, Ukraine was one of eight countries
in the World Banks second European division. Now, it shares a single department with neighboring
Belarus.

The objective [of this change] is obvious to enable people to focus more on a country. At the same time the
technical department was made larger, in an effort to bring experts together so deeper knowledge can be
gained, he said.

Siegelbaum, who will direct the Ukraine and Belarus department from World Bank headquarters in
Washington D.C., emphasized that the resident mission will still play a crucial role in the Banks relations
with Ukrainian authorities.

Technically, my responsibilities include the overall relationship beeen the World Bank and Ukraine … I
manage the offices of the resident mission, but I dont consider this technicali very important. The group
that works on Ukraine is a team. Whats important is how that team functions as a group and what they can
do, he said.

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