National Development Institution (NDI) Launched in Ukraine!

As of 1 January 2026, the National Development Institution (NDI) has officially commenced operations in Ukraine. The NDI is a new state-owned financial institution established on the basis of the Business Development Fund (BDF).

The relevant Law No. 4622-IX was jointly developed by the Ministry of Finance of Ukraine and the Business Development Fund, in cooperation with international partners, including KfW, and coordinated with the European Union and the World Bank.

What does this mean for business?

The NDI is a non-profit, second-tier development finance institution that:

✅ facilitates access for small and medium-sized enterprises (SMEs) to concessional financing through partner banks;

✅ administers state and international financial support programmes;

✅ mobilises funding from European and international financial institutions.

The NDI’s institutional model is aligned with best European practices and enables direct cooperation with the European Union.

The National Development Institution represents a new pillar of Ukraine’s financial infrastructure for recovery, providing expanded opportunities for Ukrainian small and medium-sized businesses.