International technical cooperation is the experience and specialised expertise of international development partners to achieve the highest standards of institutional capacity of the National Bank of Ukraine (hereinafter referred to as the National Bank), as well as international technical assistance to the National Bank, namely resources and services provided to it on a free and irrevocable basis by international development partners in accordance with current international agreements ratified by the Verkhovna Rada of Ukraine and determined by the legislation of Ukraine. The National Bank receives international technical assistance in the form of consultations, experts’ work during meetings and missions, products and intellectual property rights, etc.

International technical cooperation measures are aimed at improving monetary policy, regulating and supervising the activities of banks and non-bank financial institutions, ensuring the stability of the financial system, and increasing the level of financial inclusion of citizens, protecting the rights of financial services consumers and investors, bringing financial sector participants’ reporting in line with international standards, developing the payment market infrastructure and settlement operations, developing digital technologies in finance, promoting sustainable finance and building a green economy, etc.

The National Bank directs international technical cooperation measures to address the most pressing issues, and maintains an ongoing dialogue with international development partners. Key partners that have been assisting Ukraine and the National Bank over the years include: The International Monetary Fund, the World Bank Group, the European Union, the European Bank for Reconstruction and Development, the United States Agency for International Development (USAID), as well as central banks and financial market regulators in other countries.

Due to the change in geopolitical priorities, Ukraine’s accession to the European Union (hereinafter referred to as the EU), the National Bank’s and Ukraine’s more proactive position in establishing international relations, and the desire of international partners to strengthen assistance to our country, the number of new technical assistance projects/programmes and the scope of assistance provided by central banks and financial regulators of the EU countries and other developed countries increased. This year, the National Bank’s international technical cooperation was carried out both to address critical needs to ensure financial stability and in line with the strategic priorities for the development of Ukraine’s financial system. The most relevant topics for the National Bank to learn about the best international practices and gain international experience were as follows: implementation of monetary policy, ensuring financial stability, banking supervision and regulation, payment systems and innovations in emergency situations, effective communications, regulation and supervision of non-bank financial institutions, etc.

The National Bank regularly holds joint meetings with international development partners to discuss current issues and the results of international technical cooperation.

At the national level, the National Bank actively participates in the three-tiered system for coordinating international technical assistance to Ukraine, which operates at the national level and is supported by the Secretariat of the Cabinet of Ministers of Ukraine.

ІІ. Sharing and spreading the experience of the National Bank (international technical and expert cooperation)

ІII. Technical assistance from the National Bank to central banks and financial sector regulators in other countries (technical assistance from the National Bank)