The Ukrainian government has adopted a “roadmap” for reforming public investment management

This is one of the key conditions of the Extended Fund Facility with the International Monetary Fund (IMF).

The objective:
– to plan investment projects on the basis of strategic priorities and a medium-term budgetary framework;
– to select them according to uniform and transparent procedures and clear criteria; 
– implementation within the planned timeframe and financing. 

The “roadmap” defines decision-making on public investment as part of strategic and medium-term budgetary planning, the establishment of a Strategic Investment Council, the extension of public investment management procedures to all investment projects related to reconstruction and development, and the unification of approaches to the evaluation and selection of public investment projects, regardless of the sources and mechanisms of financing.

The document also provides for 
– creation of a single project portfolio to ensure prioritisation and access to funding;
– assessing the financial sustainability of public investments by the Ministry of Finance of Ukraine and strengthening the management of related fiscal risks;
– creation of a single IT ecosystem based on an updated methodological framework;
– building public investment management capacity at central and local levels.

The “roadmap” is a framework document developed in line with World Bank and IMF recommendations and the country’s post-war reconstruction needs.

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