Government delegates powers to the Ministry
The government delegated the Ministry of Finance the powers to manage state corporate rights with respect to public joint-stock company "Ukrainian Bank for Reconstruction and Development". The corresponding resolution was approved by the Cabinet on 3 June 2013, as reported by the press service of the Cabinet.
The aim of the said bank, 99.9945% of which is owned by State Investment Company, is developing corporate business as well as SME, by fostering investment and innovative projects through medium and long-term loans. At the same time, in accordance with the provisions of the Ministry of Finance, developing and implementation of financial policies is assigned to the Ministry of Finance. Besides, the Ministry of Finance within legally established order manages state corporate rights in statutory capitals of banks capitalized by the state.
Thus, the adoption of the resolution allows to improve the Finance Ministry's effective public financial policies in order to ensure increased economic development by fostering implementation of national investment and innovation projects, establishing effective supervision, monitoring and control over the Ukrainian Bank for Reconstruction and Development.
State Agency for Investment and National Projects Management is instructed to support the transfer of shares of PJSC «Ukrainian Bank for Reconstruction and Development» to the Ministry of Finance within a month.
