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Satu Kahkonen appointed new WB country director for Ukraine

The country's overall debt to the bank hit 5.5bn.

Satu Kahkonen appointed new WB country director for Ukraine
Satu Kahkonen
Photo: Photo: mediaen.publika.md

Satu Kahkonen, who has been appointed as World Bank Country Director for Belarus, Moldova and Ukraine, will take office on July 25, an Interfax-Ukraine reporter learned from the World Bank Country Office in Kyiv.

The bank said that Qimiao Fan, who had been holding the position since February 2012, has been appointed as World Bank Country Director for Bangladesh, Bhutan and Nepal.

Before his appointment to Ukraine, Fan headed the bank's country office in Cambodia. Then in Kyiv he replaced Martin Raiser, who was appointed as the bank's country director in Turkey in January 2012.

According to the World Bank, before the appointment Kahkonen worked for the bank's headquarters in Washington as director of the macroeconomics and fiscal management global practice and before that she led the poverty reduction and economic management unit which included 18 countries in Southeast Europe.

Ukraine became a member of the World Bank in 1992.

The Finance Ministry of Ukraine estimated the country's overall debt to the bank at 5.5bn, or 8.26% of the country's total plain and government-backed debt, as of early May 2016.