PERU receives grant to develop economic assistance program

CAMBRIDGE, Mass. - The Project on Economic Reform in Ukraine (PERU) has received a challenge grant through a program, arranged by Citizens Energy Corp., to assist Ukrainian policymakers with the transition to a free-market economy. The grant was awarded by Citizens Corp., a for-profit holding company owned by Citizens Energy.

The grant will be used for programs of technical economic assistance that will form the core of the International Reform Institute of Ukraine - a collaborative project between PERU, Ukrainian policymakers and academics. The institute, once fully operational, will place advisors in the Ukrainian government to assist the development and implementation of economic reform programs; will teach intensive courses on topics of reform to policymakers; will support research on the economy of Ukraine; and will provide a library and information services.

In making this challenge grant, Citizens Energy Corp., has urged other Western businesses and organizations to make similar commitments to the institute program. Citizens Energy Corp. Chairman Michael Kennedy said: "The emergence of a stable and prosperous Ukraine is important for all humankind. As a country with thousands of Ukrainian immigrants, the U.S. has a unique relationship with the people of Ukraine and, therefore, a special responsibility. Citizens is proud to fulfill its mandate in fostering greater understanding between our countries through this challenge grant. We urge other corporations to support this effort to facilitate development of a market economy and democratic principles in Ukraine."

Ukraine, the second most populous country of the former Soviet Union with 52 million people, is roughly the same size as France. As the walls of communism have toppled, many Western businesses have moved into Ukraine, seeking to establish themselves in what could become one of Europe's largest markets. Recognizing the importance of Ukraine to the world community, many observers have emphasized the important role Western assistance can and must play in aiding Ukraine's difficult transition to a market economy, noted PERU.

Copyright © The Ukrainian Weekly, January 31, 1993, No. 5, Vol. LXI

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