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Ukraine - Second Enterprise Development Adjustment Loan Project (English)

The Second Enterprise Development Adjustment Loan (EDAL) seeks to continue support for the Government's privatization and capital markets development programs under the first EDAL and the more recently initiated accounting, bankruptcy reform and deregulation programs. The loan consisting of three equal tranches, is expected to disburse quickly upon the satisfactory implementation of the agreed adjustment measures in the areas of privatization, capital markets, accounting reform, bankruptcy reform, and deregulation. Privatization reform will demonopolize infrastructure, and other enterprises. Capital market developments include consolidating regulatory functions of a State Securities and Stock Market Commission (SSMC), promoting self-regulatory organization, improving regulation, and reforming tax system. Accounting reform will establish an institutional framework for adopting International Accounting Standards, and improve audit standards. Bankruptcy reform will introduce a new bankruptcy law. Deregulation will adopt a deregulation strategy developed by deregulation experts, simplify requirements for business registration, and take actions to resolve licensing problems.

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Ukraine - Second Enterprise Development Adjustment Loan Project (English). Washington, D.C. : World Bank Group. http://documents.worldbank.org/curated/en/581511468314353495/Ukraine-Second-Enterprise-Development-Adjustment-Loan-Project