WORLD BANK DEFERS GRANTING LOANS TO UKRAINE. Paul Siegelbaum, the World Bank's director for Ukraine and Belarus, has said the bank will defer granting loans to Ukraine until the country resumes cooperation with the IMF, the Ukrainian News agency reported. In February, Ukraine requested a $150 million loan to promote entrepreneurship and some $500 million to restructure the financial sector. Earlier, the IMF discontinued financing to Ukraine under a stand-by program owing to the country's lack of progress toward economic reform. Both the World Bank and the IMF are now working with Ukraine on possible new credits. JM