Under a memorandum of understanding signed on the sidelines of the Ukraine Recovery Conference in Rome, Ukraine and the EBRD will work together to develop an integrated capital markets infrastructure. The aim, the ministry said, is to create a capital market that is efficient, transparent, and attractive to investors.
“The purpose of the memorandum is to establish a comprehensive market infrastructure—from exchange trading to clearing, settlement, and securities custody—that will transform Ukraine’s capital market into a fully functioning, liquid source of financing for the country’s recovery and growth,” the ministry stated.
Under the deal, the government will consolidate key capital market infrastructure institutions in a single holding company, at least 25% of which will be owned by the state. A public competition will then be held to determine a major international investor to take stake in the holding company.
A new national stock exchange will be launched afterwards, and the National Depository and the Clearing Center will be reorganized in accordance with EBRD guidelines.
The ministry said the memorandum sets the stage for concrete action, including legislative changes, increased investor engagement, and reforms in the management of market institutions.