KIEV, July 4 - The European Bank for Reconstruction and Development has welcomed Parliament's adoption of a law which allows the bank and other international financial institutions to issue bonds in the Ukrainian national currency - the hryvnia, and is mulling a pilot issue of bonds to test this mechanism.

"This is really good news: we have been striving for this for a long time, and this is a great progress of the stock market and the development of long-term crediting in the hryvnia," the senior banker, the head of the department for work with financial institutions at the EBRD, Oleksandr Pavlov, told Interfax-Ukraine.