Parliament Prepares to Launch the National Development Institution

The Verkhovna Rada Committee on Finance, Tax, and Customs Policy unanimously supported at the second reading draft law No. 11238 of May 7, 2024, which provides for the establishment of the National Development Institution. The new entity will be created on the basis of the Business Development Fund and is expected to become a key instrument for supporting businesses and rebuilding Ukraine’s economy.

According to the draft law, the institution will provide financial and other types of support to target groups of entrepreneurs with high growth potential, as well as to companies operating in sectors of strategic importance to the state.

The further adoption of the law will strengthen the institutional capacity of the Business Development Fund in supporting micro, small, and medium-sized businesses through partner banks, while also creating conditions for large-scale economic recovery of the country.

Photo: Website of the Committee on Finance, Tax, and Customs Policy