Purpose: Strengthen the NBU’s capacity and support financial sector reform – in both regulatory and infrastructural areas – to address the sector’s identified risks and vulnerabilities. Promote financial inclusion and the use of financial services through regulatory and technical support to diversify and develop innovative financial services.
Components:
Component 1: Optimization and automation of supervisory infrastructure:
• Subcomponent 1.1: Implementing SupTech tools
• Subcomponent 1.2: Technical and financial support for measures to implement Subcomponent 1.1.
Component 2: Supporting financial sector reforms to strengthen resilience and efficiency:
• Subcomponent 2.1: Deposit guarantee and bank resolution system
• Subcomponent 2.2: Strengthening the country’s valuation system
• Subcomponent 2.3: Financial integrity.
Component 3: Stimulating access to finance and diversifying the financial sector:
• Subcomponent 3.1: Advancing digital financial services
• Subcomponent 3.2: Strengthening financial support programs and reducing risks for targeted priority sectors and exporters using transparent rules and governance mechanisms
• Subcomponent 3.3: Supporting the creation of deeper and more diversified financial markets to unlock financing for the economy.
Products implemented for the NBU, and key events:
• The presentation Fast Payments: Checking the Payee, Proxy, and Overlay Services was given.
• The document Offline Solutions for Payment Transactions: Modern Challenges and Prospects was developed.
• Consultations were held on asset valuation issues in the banking system.
• Advisory support was provided in terms of analyzing war risk insurance and developing a draft amendment to the Regulation On Licensing the Export Credit Agency.
• World Bank’s draft report Wartime Financial Inclusion Landscape in Ukraine was prepared. The document Assessing Challenges and Building Opportunities for Resilience was developed at the NBU and handed over to an international development partner to finalize.