The Ministry of Finance of Ukraine, the National Bank of Ukraine, the National Securities and Stock Market Commission, the Deposit Guarantee Fund and the Ministry of Economy of Ukraine approved a revised Strategy of Ukrainian Financial Sector Development, updating joint priorities in response to sustained uncertainty linked to the prolonged full-scale war. The revised Strategy is framed as a tool to improve coordination among financial market regulators to support macroeconomic and financial stability, increase investment and advance Ukraine’s integration into the European Union, and it is described as being prescribed in the Ukraine-IMF Memorandum of Economic and Financial Policies. Key changes include expanded measures on macroeconomic and financial stability, with new initiatives covering legal regulation of the Business Development Fund’s operations, reform of the state social insurance system, resilience of critical infrastructure, and digital operational resilience for the Deposit Guarantee Fund and the financial sector. The capital markets agenda was updated to revise capital market infrastructure development measures, including aligning the target operating model with stakeholders, consolidating accounting infrastructure and engaging foreign investors. European integration was reinforced by expanding Target III and adding a new “European integration of the financial sector” initiative covering deeper cooperation with EU institutions, participation in negotiations and implementation of EU laws, taking into account European Commission screening recommendations. The Strategy also introduces a short list of near-term key indicators, clarifies five existing indicators and adds four new ones relating to access to remote financial and public services via the National Bank of Ukraine’s BankID System, legal regulation of investment fund operations, the voluntary funded pension system and expanding links with a foreign depository to include reconstruction and recovery instruments. Development and revision of the Strategy are handled under the Committee on Financial Development at the Financial Stability Council. The Council approved the original Strategy in July 2023 and it was published in August 2023; it approved a revised list of measures on 13 May 2025 and the revised Strategy on 26 June 2025. As of end-2024, 87% of Strategy actions were reported as completed according to schedule.

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