The Ministry of Finance of Ukraine, the National Bank of Ukraine together with the members of the Verkhovna Rada started work on the draft law on the creation of the National Development Institution (NDI).
About this reported Chairman of the Verkhovna Rada Committee on Finance, Tax and Customs Policy, Danylo Hetmantsev.
NUR will become a state specialized institution (“bank of banks”) with a mandate to restore and structurally transform the Ukrainian economy. Its key task will be the implementation of lending programs for the recovery of the country.
“NUR should solve problems with lending to relocated businesses, enterprises in the front-line territories, IDPs, as well as projects with a high level of risk“, Hetmantsev noted.
NUR will get access to the funds of private investors, which will be directed to the reconstruction and development of the Ukrainian economy. The instruments of support will be loans, guarantees, state subsidies and other financial mechanisms.
The idea of creating NUR was served by the work experience of KfW (Kreditanstalt für Wiederaufbau) – the state development bank of Germany, founded in 1948 as part of the Marshall Plan. KfW played a key role in the recovery of the German economy after World War II and still provides affordable loans to companies and citizens for investment.
Consultations and discussions are currently ongoing regarding the structure, powers and funding of the NUR. It is expected that the draft law will be made public in the near future.
