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US to spend 28m dollars in aid on Ukraine's financial reform

The project is funded by the United States Agency for International Development (USAID).

US to spend 28m dollars in aid on Ukraine's financial reform
Photo: Photo: usaid.gov

The deputy head of the US diplomatic mission in Ukraine, George Kent, presented on 22 March the USAID project "Transformation of the financial sector" with a total budget of 28m dollars. This money will be spent until the end of 2020 to increase confidence in the banking sector of Ukraine, expand access to finance through the non-banking sector, develop e-finance, reform of the pension system and informational and educational work with vulnerable segments of citizens.

Particular emphasis will be placed on protecting the rights of consumers of financial services and financial literacy, said George Kent, speaking to guests at the presentation in Ukrainian.

The event attracted over 200 people, including representatives of the banking sector, investment companies, think tanks and journalists.

The speakers included the project manager Robert Bond, his deputy Yuliya Vitko, the first deputy head of the NBU Yakov Smoliy, Deputy Finance Minister Yuriy Butsa, MPs Mykhailo Dovbenko, Ruslan Demchak of the Verkhovna Rada banking committee, deputy director of the Deposit Guarantee Fund Andriy Olenchyk, and Raiffeisen Bank Aval COB Volodymyr Lavrenchuk.

Late last year, USAID launched a 50m-dollar programme in support of decentralization in Ukraine.