Description
The “Further Approximation of the Regulatory Framework to European Union Legislation and International Standards in Financial Markets in Ukraine” (FINMAR) project is implemented with the support of the EU and aimed at improving the Ukrainian financial market regulation system in line with EU legislation and best international practices.
By developing a robust legal and regulatory framework, enhancing the institutional capacities of the National Bank of Ukraine and the National Securities and Stock Market Commission, and harmonizing financial regulations with EU practices, this project aims to create a resilient financial system capable of meeting Ukraine’s recovery, rebuilding, and modernization needs. Reforms in the financial markets sector will bolster investor confidence and facilitate broader access to international capital. Reforms in areas such as consumer protections, financial literacy, and sustainable finance will improve financial inclusion and alignment with international environmental and governance standards.
The project aligns directly with Ukraine’s priorities for financial reform and EU integration, as articulated in documents such as the Strategy for Ukrainian Financial Development and the EU Ukraine Plan. Among the financial reforms envisaged by the Ukraine Plan:
Restoring the sustainability assessment and asset quality review of the largest banks.
- Reducing state ownership in the banking sector.
- Improving the resolution of banks’ non-performing loans.
- Building capacity in the financial supervisory authority.