According to EBRD Director for Eastern Europe Matteo Patrone, state-owned enterprises will be the primary recipients of funding for recovery, so it is essential for Ukraine to complete its corporate governance reform. Namely, the Ukrainian Parliament must adopt the relevant legislation.
According to Patrone, the condition for providing financing from donors and foreign private investors will be implementing the best global management practices to ensure the efficiency and transparency of state enterprises’ activities. Patrone added that implementing such systems will prevent misuse of recovery funds and act as a marker of confidence for investors.
He emphasized that draft law 5593-d, which the parliament will soon consider in the second reading, is one of the critical stages of the corporate reform of state-owned enterprises. Patrone reminded that carrying out corporate governance reform following OECD standards is also among Ukraine’s obligations under the latest memorandum with the IMF.