​Cabinet of Ministers approves Concept aimed to improve effectiveness of projects implemented jointly with international financial organisations

12/27/18

On December 27, the Cabinet of Ministers considered and approved the Concept aimed to improve the effectiveness of projects implemented jointly with international financial organisations.

At the first meeting on December 14, the document was examined and approved by the working group chaired by Minister of Finance Oksana Markarova that is responsible for issues concerning cooperation with international financial organisations.

The Concept stipulates changes in the approaches to the selection of projects to be funded by international financial organisations as well as to the alignment of projects with the current priorities of Ukraine.

The Concept contains different options for solutions aimed to increase the use of funds provided by international financial organisations and to improve project management at different levels, including the development of tools minimizing currency-related risks, build-up of a platform for information exchange and a multi-level system of project monitoring, regular reviews of the loan portfolio and the set-up of an open register for projects launched by international financial organisations.

“Today, we are switching from the concept stage to the implement stage. This is just the beginning of our big work that will let us significantly increase the use of funds for projects financed by international financial organisations in 2019. This means more investments and loans for energy efficiency, transport and infrastructure development, small and medium-sized business, municipal and local projects as well as project of private business,” said Minister of Finance Oksana Markarova.

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