On October 20, 2025, the third Steering Committee Meeting of the Twinning Project “Implementing effective supervision over non-bank financial institutions” took place.
The project is implemented in partnership between the National Bank of Ukraine and public authorities from Poland, Lithuania, and Spain, with the support of the European Union. This initiative represents an important step in the ongoing reform of Ukraine’s financial sector and aims to align national supervisory practices with EU standards.
During the meeting, the participants reviewed the progress achieved over the past nine months of implementation and agreed on the main priorities for the upcoming period. All sides highlighted the productive cooperation between the partners, the high quality of expert missions, and the practical value of the results achieved so far.
European experts presented the outcomes of technical missions, covering a broad range of topics such as regulatory improvement, risk-based supervision, and alignment with relevant EU directives.
Special focus was given to European practices in the fields of payment service providers, insurance supervision, and licensing procedures for non-bank financial institutions.
Representatives of the National Bank of Ukraine positively assessed the results of the joint work and underlined the practical usefulness of the recommendations received. The Twinning cooperation contributes to strengthening the institutional capacity of the NBU and to building a modern, transparent, and efficient supervisory system based on European values and principles.
The meeting also marked the transition to Component B, which will focus on the implementation of practical tools and the development of detailed recommendations for further improvement of Ukraine’s non-bank financial supervision system.
Officially launched on 1 January 2025, the Twinning project will last 21 months. Its implementation will enhance the institutional capacity of the National Bank of Ukraine and support the introduction of EU-aligned approaches to the supervision of insurance companies, credit unions, leasing firms, and other non-bank market participants.
Through this partnership with the European Union, Ukraine continues to advance comprehensive reforms that bring its financial system closer to the EU framework, ensuring the development of a stable, inclusive, and competitive financial market.
The event was attended by Marta Mohilevska, Head of the Twinning Coordination Sector of the Twinning Support Unit of the Twinning Administrative Office.
For reference: according to the Resolution of the Cabinet of Ukraine “On Approval of the Procedure for Initiation, Preparation and Implementation of the Twinning Projects” as of 11 October, 2016 No 700 the National Agency of Ukraine on Civil Service coordinates the implementation of the institution building instrument of the European Union Twinning in Ukraine. Furthermore, in accordance with relevant legal acts the National Agency of Ukraine on Civil Service is the coordinator of institution building instrument TAIEX implementation in Ukraine. In order to provide effective coordination of Twinning and TAIEX the Twinning Program Administration Office in Ukraine was established, its functions are performed by the Center for Adaptation of the Civil Service to the Standards of the European Union.