Financial sector news

The EU Council approved the payment of €2.3 billion to Ukraine under the Ukraine Facility program

This was announced by Ukrainian Prime Minister Yulia Svyrydenko.

Ukraine has managed to fulfill 8 out of 10 indicators set out in Ukraine's Plan, as well as a number of systemic reforms in public finance management, green transition and environmental protection, and optimization of the business environment, financial markets, and the judicial system.

In the third quarter, the government implemented important steps in the following areas of reform:

  • improving public investment management;

  • climate policy;

  • developing a circular economy;

  • harmonizing legislation and standards with the EU;

  • reducing the state's share in the banking sector;

  • improving planning and ensuring optimal conditions for attracting strategic investors;

  • strengthening the accountability, integrity, and professionalism of the judiciary.

This sixth tranche under the current program is important for ensuring Ukraine's financial stability during a full-scale invasion. “We are grateful to our European partners for their systematic support and continuation of the program,” said Yulia Svyrydenko, assuring that the Ukrainian government will work to improve the implementation of the Ukraine Facility conditions during the next reporting period.

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The mission of the Association of Ukrainian Banks is to support the development of the national banking system. The AUB cooperates with the Verkhovna Rada of Ukraine on improving the legislation governing banking activities, and interacts with the National Bank of Ukraine on regulatory support for the functioning of banks and non-bank financial institutions. The CBA takes care of the professional development of bank employees, expands international relations with associations and banking institutions of other countries.

 

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