The European Union has launched a new project financed by the EU and aimed at supporting the National Bank of Ukraine in improving the supervision of non-banking financial institutions. About this informs NBU press office.
The financial system of Ukraine showed high resilience during the full-scale war unleashed by the Russian Federation. Such a result became possible, in particular, due to the fact that the National Bank of Ukraine and other specialized institutions continued to implement important reforms in the legal, regulatory and supervisory spheres.
As part of the EU’s obligations to support Ukraine on the way to European integration, a new twinning project was officially launched on May 14, 2025. Its purpose is to help the NBU move to risk-oriented supervision, which corresponds to the best European practices, as well as to promote the stable development of the non-banking financial sector. The project should ensure the effectiveness of the institutions working in this field and create a basis for their role in the post-war recovery of Ukraine’s economy and integration into European and global financial markets.
The implementation of the initiative involves specialized supervisory bodies from EU countries: Urząd Komisji Nadzoru Finansowego (Office of Financial Supervision of Poland – UKNF), Lietuvos bankas (Bank of Lithuania – LB), La Fundación Internacional y para Iberoamérica de Administración y Políticas Públicas (FIIAPP) in partnership with the Dirección General de Seguros y Fondos de Pensiones (DGSFP) – the structure of the Spanish Ministry of Economy, Trade and Business responsible for supervision in the field of insurance and pensions.
“Ukraine has set itself an ambitious goal – to gain membership in the European Union in the shortest possible time. We at the NBU are fully aware of the responsibility entrusted to us and are doing everything possible within the limits of our mandate to accelerate the integration of the financial sector of Ukraine into the single EU market. I am convinced that the dynamic exchange of knowledge and experience with our partners from EU member states within the framework of this new Twinning project will be an invaluable support of this process, in particular in the further promotion of reforms of the non-banking financial sector”, Andriy Pishnyi, the head of the National Bank of Ukraine, said.
