Rada creates National Development Institution

The Verkhovna Rada has created the National Development Institution (NDI).

This was announced by Danylo Hetmantsev, a member of the Verkhovna Rada from the Servant of the People faction, head of the parliamentary committee on finance, tax and customs policy, in a Telegram, Ukrainian News Agency reports.

"The Verkhovna Rada adopted in the second reading the bill No. 11238 on the National Development Institution," he wrote.

The bill is aimed at:

- solving problems with financing relocated businesses, enterprises in frontline regions, businesses of internally displaced persons, as well as projects with an increased level of risk;

- attracting funds from private investors and directing them to the restoration of the economy;

- supporting, first of all, small and medium-sized businesses that have found themselves in difficult conditions, but have the potential for restoration and development.

Separately, the possibility of supporting other categories of persons (including individuals) who do not have access to financing on adequate terms or such access is complicated due to the crisis, imperfection of market mechanisms, or other circumstances is provided.

As Ukrainian News Agency earlier reported, the National Development Institution is a state specialized institution with the status of a "bank of banks" and a clear mandate for the recovery and structural transformation of the economy.

Its main mission is the implementation of lending programs for the reconstruction of the country.

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