The Ukrainian sovereign fund will seek investment to develop multiple enterprises and sectors of the economy.
The Ukrainian Sovereign Fund (USF), the concept of which was presented by the head of the State Property Fund of Ukraine (SPFU), Oleksandr Fedoryshyn, will operate as a holding, which will include from six to 11 branch subholdings.
As he explained, creating the USF is one of the SPFU’s priorities. All strategic state companies, which are not subject to privatization, should gradually enter the new structure. The USF’s task will be the preparation of development strategies not only for individual enterprises but also for industries. At the same time, USF will look for investments to implement these strategies.
The USF’s structure will comply with international standards and norms, in particular, those of the IMF and OECD. Currently, the SPFU is working on a draft law that will define the main principles of the USF. It will also determine the criteria by which state assets will be included in the fund.