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Parliament prohibits arrest of international financial institutions’ funds for investment projects
20:33, 17 May 2018

Parliament prohibits arrest of international financial institutions’ funds for investment projects

259 members of parliament voted in favor of the bill.

20:33, 17 May 2018

112 Agency

The Parliament of Ukraine supported a bill #6578 on the prohibition of freezing the funds of international financial organizations allocated for investment projects in the areas of heat and water supply. 259 members of parliament voted in favor of the bill, broadcast live by the Rada TV channel.

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The bill was presented by a member of parliament from the Samopomich faction, the deputy head of the parliamentary committee on construction, city planning and public utilities Olena Babak.

“Let us consider these conceptual changes to the second reading. The bill was enhanced with definitions of the terms “special accounts for credit funds”, and also with sources of income that will be found in such accounts – it is set that, apart from funds from international financial organizations, it could be funds from overseas financial and credit institutions or funds attracted in accordance with intergovernmental treaties, or credit loans, or funds attracted by the state or the subjects of management within the identified sectors, under government or local securities.

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According to her, the document includes a provision for the owner of a special account for credit funds secures the control and is responsible for the intended use of credit.

During the discussion, representatives of the Batkivshina faction opposed the application of the bill to foreign financial and credit institutions, even if the money is intended for investment programs for the enhancement of public infrastructure.

The Batkivshina’s version was voiced by Serhiy Sobolev: “Our suggestion is all of the amendments to the text so that we wouldn’t have to approve articles one by one, to stick to the general version. International institutions, government institutions should be left in the edition, international should be left – and it is the final edition that we are going to vote for – while leaving local government guarantees in place.

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The Ukrainian parliament voted in support of the bill as a basis in March of the current year by 238 votes of lawmakers.

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