Securities and Stock Market State Commission, National Bank of Ukraine and Ministry of Finance together with the European Bank for Reconstruction and Development have signed a Memorandum of capital market development, siad UNIAN.
This memorandum contains the updated needs assessment of Ukrainian market, points of development of depository infrastructure, new capital market instruments as an alternative to the banking sector, the action plan for assistance in creating effective controls and legal framework.
"National Bank of Ukraine welcomes the signing of the memorandum and the efforts of the EBRD to support capital market development in Ukraine. This is one of the highest priorities in reforming the country's financial sector, which is supported by a program of financial sector of Ukraine 2020,” as stated by the press center of National Bank.
As reported earlier, head of the EBRD in Ukraine Shevki Adzhuner said that the bank is ready to support the financial sector Ukraine.
EBRD Trade Facilitation Program is works with eight Ukrainian banks. Currently the program provided 1.5 bln EUR to support trade operations in Ukraine.
In 2010 the EBRD launched the initiative (Local Currency and Capital Markets Initiative), expected to stimulate the lending operations in local currencies, and the development of local capital markets. The initiative also aims to mobilize local domestic funding sources, reducing dependence on foreign currency lending and currency risks.