Analysis of gaps in the legal and regulatory framework of Ukraine regarding debt securities

Ukraine already has the legal foundations for issuing debt securities including municipal and green bonds. Despite these mechanisms, several regulatory gaps still limit their potential for large-scale recovery financing. Our new analytical study examines these gaps in Ukraine’s Legal and Regulatory Framework for Debt Securities, highlighting what needs to change for Ukraine’s financial system to effectively support sustainable recovery and green transition. The study was prepared by Denys Titkov within the framework of the «C4CA/Ukrainian Climate Office project», implemented by GIZ on behalf of the German Federal Government within the International Climate Initiative (IKI) and co-financed by the European Union.