April 3, 2025
PRESS RELEASE
On Wednesday, April 2, management of the DGF held a working meeting with the representatives of the World Bank. The participants of the meeting discussed preparatory steps for the implementation of EU legislation on deposit guarantees, failed banks resolution, liquidation of credit institutions and depositors’ and creditors’ rights protection.
The World Bank experts emphasized the importance and priority of expanding deposit guarantees to legal entities for small and medium-sized businesses to feel protected during the future reconstruction of Ukraine.
"We have engaged the support of our international partners on our way to implementing European standards in the deposit guarantee system of Ukraine. We have rather tight timeframe for implementing all the necessary changes, as we are expecting the legislation changes by 2027, but not earlier than the end of the martial law," said Olga Bilai, Managing Director of the DGF.
The parties also discussed the draft law № 13007 registered in the Verkhovna Rada "On Amendments to Certain Legislative Acts of Ukraine Regarding the Settlement of Certain Issues of the Deposit Guarantee Fund, the National Bank of Ukraine and Collective Investment Institutions." The adoption of this law is an obligation of Ukraine within the framework of cooperation with the IMF. The key purpose of the proposed changes is to expand the opportunities for the implementation of failed banks resolution tools, which provide full or partial return of assets and insolvent banks to the market.
The following experts from the World Bank participated in the meeting:
- Martha Martinez Licetti – Practice Manager, Finance Competitiveness and Innovations;
- Johanna Jaeger – Senior Financial Sector Specialist;
- Vahe Vardanyan – Lead Financial Sector Specialist;
- Yevhen Hrebeniuk – Senior Financial Sector Specialist.
It should be noted that the World Bank mission visited Kyiv and the DGF office for the first time since the beginning of the full-scale invasion.