KYIV, Aug 13 - The European Business Association (EBA) has appealed to the International Monetary Fund (IMF) and the directorate of the World Bank in Belarus, Moldova and Ukraine with the request to support the second level of pension insurance in Ukraine, which is proposed by bill No. 6677.

"The business supports the idea of financial defined contributions. The mechanism for its implementation is qualitatively explained in draft law No. 6677 ... The EBA urges the IMF and the World Bank to support this document. We hope that this will help launch the process of building the second level of pension insurance, stabilize the pension system in principle," the report said.