NBU ready to sign memorandum with IFC

NBU ready to sign memorandum with IFC

The National Bank of Ukraine (NBU) is ready to sign a memorandum of understanding with the International Finance Corporation (IFC) regarding financial inclusion in Ukraine.

NBU Governor Kyrylo Shevchenko said this during a meeting with IFC Regional Manager in Ukraine, Belarus and Moldova Jason Pellmar, the NBU press service reports.

"Kyrylo Shevchenko confirmed his readiness to sign a memorandum of understanding with IFC, which includes further steps to increase financial inclusion in the country and develop financial technology," the statement reads.

The NBU governor believes that cooperation between the National Bank and the International Finance Corporation will contribute to the development of the Ukrainian economy and the growth of citizens' involvement in the financial system. For his part, the IFC representative informed about the implementation in Ukraine of a technical assistance program entitled Ukraine Financial Inclusion for Growth Program.

As Ukrinform reported, in early 2020, the National Bank of Ukraine, together with other financial market regulators, approved the Strategy for FinTech Development in Ukraine until 2025.

The strategy provides for the development of the financial sector in five main areas: strengthening financial stability; promoting macroeconomic development and economic growth; development of financial markets; expanding financial inclusion; and the implementation of innovations in the financial sector.


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