Finance
banking sectorCabinet plans to allocate UAH 10 bn to the Deposit Guarantee Fund
In the coming days the Cabinet of Ministers of Ukraine is planning to allocate UAH 10 bn (US $770,000 mn) for financing of the Deposit Guarantee Fund, announced Minister of Finance Oleksandr Shlapak in Washington.
“This week the government will transfer around UAH 10 bn to the Deposit Guarantee Fund as we need to clean “the Augean stables”, withdraw a large number of banks from the market, in particular, waste banks, through which over UAH 300 bn (US $23.08 bn) were laundered the previous year, by our estimates,” informed the minister.
He noted that these banks “have investors who should return their money (UAH 200,000 or US $15,380) and the government is doing this with the support of the Deposit Guarantee Fund”.
The government will allocate funds also with the support of the World Bank, said Shlapak.
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