The World Bank management obtained access to a part of Ukraine's gold and foreign currency reserves to the tune of USD 1bn, according to Oleg Chury the deputy governor of the National Bank of Ukraine (NBU). WB is one of the largest investment managers for central banks managing the reserves of 53 currency boards around the world.
Such a transfer makes it possible to carry out operations with foreign currency reserves similar to those performed by the WB in the training of its personnel.
Among other advantages of transferring assets to the WB management are gaining reports and analytics of the World Bank Group. NBU staff will also benefit from distance learning at the leading American universities, along with consulting services from the WB too.
The WB manages FX reserves of Ukraine within the limits set by the NBU for highly liquid instruments with risk exposure limit, other liquidity and reporting requirements.
