Government of Ukraine approves procedure for preparation, evaluation and implementation of public investment projects and programmes

The Ukrainian government is continuing its reform of public investment management (PIM). The Cabinet of Ministers has approved the Resolution “Certain Issues of Public Investment Management”.

This document regulates the implementation of the PIM reform at the national, regional and local levels. It provides a step-by-step guide that will standardise approaches to planning, designing and evaluating public investment projects. This will ensure clear allocation of resources, efficient use of budget funds and attraction of investment. The procedures have been approved by the Ministry of Economy of Ukraine in cooperation with the Ministry of Finance of Ukraine and the Ministry of Communities and Territorial Development of Ukraine, with the involvement of international experts. They cover the following areas

development and monitoring of the medium-term plan for priority public investments at the state level;
preparation of public investment projects and public investment programmes;
preparation of the unified public investment portfolio for the state, region or municipality, as well as sector-specific portfolios;
evaluation and implementation of public investment projects at all levels of government.

The main objective of the PIM reform is to create a transparent, accountable and effective system for attracting investment in the strategic sectors necessary for economic recovery. This year’s Unified Project Portfolio, based on DREAM, contains 787 projects, the highest priority of which will be funded from the state budget. The rest can be further developed and updated to increase their chances of being funded.

The PIM reform integrates strategic and medium-term budget planning, allowing financial resources to be directed to key projects in line with government priorities and the current needs of Ukrainians.

In earlier stages of the PIM reform, the Strategic Investment Council was established to take key decisions on the formation of the unified project portfolio. In addition, the Interagency Working Group on Public Investment Project Preparation was established to ensure the development of high quality public projects.

It is important to note that the approval of the methodological framework underpinning the PIM process is one of the International Monetary Fund’s structural benchmarks that Ukraine must meet by 2025.

The Government of Ukraine expresses its gratitude to the European Commission, the Government of the United Kingdom, the World Bank, the UK IPA, the Tony Blair Institute, the Open Contracting Partnership, the DREAM Project Office, the Green Transition Office and the DIXI Group for their support in the development and implementation of the new procedures.

This information has been prepared by the Ministry of Economy of Ukraine.

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