Parliament passes law on financial restructuring

Parliament passes law on financial restructuring

Ukraine's Verkhovna Rada passed the bill on financial restructuring, which will introduce a mechanism of the voluntary financial restructuring of debtor enterprises in order to resolve the situation with problem loans and resuming lending to the economy by banks.

The bill was drawn up by the Finance Ministry jointly with the National Bank of Ukraine, the Independent Association of Banks of Ukraine, the European Bank for Reconstruction and Development and the World Bank. It is a benchmark in the Extended Fund Facility program financed by the International Monetary Fund.

The NBU and Finance Ministry welcome the adoption of the document.

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