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Fighting Corruption In Ukraine Key To Achieving Public Trust And Economic Growth

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By EBRD Press Office

Combatting corruption in Ukraine is crucial to both achieving public trust in State institutions and attaining stronger, sustainable and inclusive economic growth.

Recognising this, the European Bank for Reconstruction and Development and the European Investment Bank (collectively “the International Organisations”) have for many years been at the forefront of supporting Ukraine’s efforts to build more effective, transparent, and accountable institutions and combat all forms of corruption in public life.

The fight against corruption is a central pillar of the International Organisations’ work in Ukraine, combining high-level policy engagement and targeted technical assistance with the promotion of the highest standards of business ethics and integrity in both public and private sector clients.

The International Organisations are determined that the significant anti-corruption reforms achieved in Ukraine so far are maintained without dilution, and have resolved to further enhance their coordination and collaboration in support of these actions.

In particular, the International Organisations recognise that eliminating corruption in Ukraine’s state-owned enterprises and agencies, and fostering good and transparent governance in these entities, is a matter of great importance and urgency.

These objectives can only be achieved in strong partnership with Ukraine’s authorities.

To this end, the International Organisations recognise the importance and ambition of the Memorandum of Understanding signed in October 2020 between the government of Ukraine and the EBRD, pursuant to which the Ukrainian government pledged to strengthen corporate governance in the state sector (in line with OECD recommendations) and implement robust anti-corruption and procurement controls at state entities.

The success of reforms at Ukraine’s state road agency, Ukravtodor, where the European Investment Bank and the European Bank for Reconstruction and Development are partnering to enhance anti–corruption and good–governance practices, will be a litmus test for a broader programme involving more state-owned enterprises and agencies.

The International Organisations look forward to working with the government of Ukraine, Ukravtodor and other state-owned entities to achieve these substantial and necessary reforms. If successful, the people of Ukraine will benefit from these efforts.

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