On 13 May 2021, NBU Governor Kyrylo Shevchenko met with Melinda Simmons, Ambassador Extraordinary and Plenipotentiary of the United Kingdom to Ukraine.
“I would like to thank the United Kingdom for its many years of support for the NBU’s efforts to implement modern best practices, develop green finance, and implement the principles of environmental and social responsibility in the financial system. We have been stepping up our role in green finance and sustainable development initiatives, in particular through our SBN membership and cooperation with IFC. We’ve had the first constituent meeting on the development of sustainable finance in Ukraine to discuss the implementation of the agreement with IFC in this area. The purpose of the meeting was to draw up an action plan for greening Ukraine’s financial sector. I assure you that we are open to cooperation in order to mobilize our efforts to resolve global problems. I know that the United Kingdom has experience in this area, and so I will be grateful for your further assistance in expanding the opportunities for Ukraine to benefit from this experience,” said Kyrylo Shevchenko as he opened the meeting.
The participants discussed a number of important issues: the implementation of the NBU’s monetary policy and measures to combat the Covid-19 crisis, progress in cooperation with the IMF, priorities of corporate governance reform in state-owned banks, the NBU’s initiative to create a specialized court, and streamlining regulation to ensure that Ukraine’s financial system is stable and strong.
During the meeting, the parties also paid attention to the issues of cooperation between the NBU and the London Stock Exchange, and progress in technical cooperation with the United Kingdom, in particular through the Good Governance Fund (GGF). A special focus was placed on the bilateral cooperation between the NBU and the Bank of England and the United Kingdom’s other financial authorities, including in matters of financial incentives for environmentally responsible activities.
The Ambassador praised the NBU Governor’s commitment to the NBU’s independence and assured him of the United Kingdom’s support for the reform of the Ukrainian banking sector
Overall, the parties agreed on the need for further cooperation to support the NBU’s measures aimed at developing and improving the operation of the country’s financial sector.