On December 24, 2024, the National Bank of Ukraine, the initiator of the Twinning project ‘Implementing Effective Supervision over Non-bank Financial Institutions’, signed a contract under this instrument.

The overall objective is to develop stable, secure and efficient financial services markets in Ukraine to provide financial resources to the national economy and support the country’s post-war recovery, economic and social development and integration into the global financial environment. As well as introducing a supervisory assessment of non-bank financial institutions in line with EU standards and developing a model of economic standards for these institutions in Ukraine.

The contract was signed between Ukraine and a consortium consisting of Poland, Lithuania and Spain.

This project will be an important step towards modernising the national financial system, facilitating Ukraine's integration into European financial structures and supporting national reforms in the regulation of the non-banking financial sector. The experience of EU partners will enable Ukraine to introduce advanced methods of supervision and assessment of non-bank financial institutions that meet the requirements of European legislation and international standards.