Ukraine and the European Bank for Reconstruction and Development (EBRD) have signed a Memorandum of Understanding to cooperate in building an integrated capital market infrastructure, which includes the launch of a new stock exchange, reports Baltimore Chronicle with reference to the Ministry of Finance of Ukraine.
The agreement was signed during the Rome Conference on Ukraine’s recovery. According to the memorandum, a comprehensive system will be developed encompassing all key elements of a functioning capital market—from stock trading to clearing, settlements, and securities custody.
The document outlines the creation of a unified holding company that will consolidate major market infrastructure institutions. The state will maintain at least a 25% ownership stake in this new structure. Additionally, an international strategic investor will be brought in through a public tender.
Key measures include the launch of a new stock exchange and optimization of the management of the National Depository of Ukraine and the Settlement Center.
The Ministry of Finance noted that this move is a crucial step toward establishing a fully functional and liquid capital market that will serve as a financing engine for Ukraine’s economic recovery and growth.
The memorandum was signed by Minister of Finance Serhii Marchenko, First Deputy Prime Minister Yuliia Svyrydenko, National Bank Governor Andriy Pyshnyi, Acting Head of the National Securities and Stock Market Commission Yaroslav Shliakhov, and EBRD President Odile Renaud-Basso.
The next phase will involve legislative changes, holding the tender for investor selection, and reforming the governance of capital market institutions.
Earlier we wrote that EBRD approves loan of up to €270 million to purchase gas for two heating seasons in Ukraine.