The Diplomat
The Foundation for the Internationalization of Public Administrations (FIAP), a subsidiary of the Spanish Cooperation Agency, is participating in a European Union project to support the National Bank of Ukraine (NBU) in its supervisory work on non-bank financial institutions.
According to the Spanish Cooperation Agency specializing in the promotion of public policies, the project was launched on May 16 and is managed by the Polish Financial Supervision Authority (UKNF), the Bank of Lithuania (LB), and FIAP, together with the General Directorate of Insurance and Pension Funds of the Spanish Ministry of Economy, Trade, and Enterprise.
The two-year project, with a total budget of almost €1.5 million, will improve Ukraine’s overall financial supervision mechanisms in accordance with EU best practices to ensure the stability and transparency of the Ukrainian financial sector. This will contribute to strengthening the NBU’s capacity as a supervisory authority for non-bank financial institutions in the context of Ukraine’s integration into the European Union.
The objective of this project, according to FIAP, is to help secure sources of financing for the post-war recovery of the Ukrainian economy and its integration with the EU and global financial markets.
