The unstable situation in global financial markets will not prevent the European Bank for Reconstruction and Development to implement the project to modernize the water supply system of Yalta. This was stated by a senior banker, head of infrastructure and energy direction of the EBRD in Ukraine Mark Magaletsky during a panel session at the II International Black Sea Economic Forum in Yalta.

   He assured that the EBRD remains stable to negative phenomena in financial markets due to the support of shareholders and its own resource base. The Bank is not going to stop the implementation of projects in Ukraine, including in Crimea, and moreover – it is going to step up its activity in the country.

    "In no case the current difficulties in financial markets will affect our cooperation. We hope that the Yalta project will be the first one, and in fact it will give an impetus for further projects", - said Mark Magaletsky.

    He also expressed satisfaction with the work of the Government of Crimea and the Agency for Regional Development of the ARC within this project.

    In May 2011, the Chairman of the Council of Ministers of Crimea Vsiliy Dzharty during his visit to London reached an agreement with Vice-President of the EBRD Jan Fischer on resuming previous program to modernize the utility of Yalta.