The Verkhovna Rada has adopted as a basis a draft law that provides for the establishment of a National Development Institution through the reorganization of the Entrepreneurship Development Fund, which will perform the functions of providing financial and other support for the development and reconstruction of Ukraine's economy. The institution will be analogous to the German Credit Institution for Reconstruction. This was reported by UNN with reference to MP Yaroslav Zheleznyak and the card of the draft law No. 11238.
Law No. 11238 on the National Development Institution was adopted in the first reading. It was adopted in the first reading with 233 votes in favor,
Details
The draft law provides for the creation of a National Development Institution through the reorganization of the Entrepreneurship Development Fund, which will perform the functions of providing financial and other support for the development and reconstruction of Ukraine's economy.
It is noted that the main activities of the National Development Institution will be:
- providing funds on credit;
- factoring;
- providing guarantees;
- compensation of interest rate, principal and/or other loan payments; provision of non-refundable financial support (grants);
- activities related to the conclusion of derivative contracts and transactions with financial instruments on its own behalf and at its own expense; activities related to the development, support and mediation in the distribution and administration of funds of state programs, programs of local governments, international technical assistance projects, projects of international financial organizations;
- conducting investment research, financial analysis or providing any other general recommendations or consultations related to the operations specified in this part.
The National Development Institution has the right to raise funds in the form of a loan and factoring from financial service providers that are entitled to provide a service of providing funds and bank metals on credit or factoring services; in any form from foreign states; through transactions with financial instruments; in the form of a charitable contribution, donation, grant, non-refundable financial assistance, international technical assistance.
The governing bodies of the National Development Institution will be the general meeting of participants, the council and the board."
The General Meeting is the supreme governing body, the Council is the management and control body, and the Management Board is the executive body of the National Development Institution,
Corporate rights owned by the state in the authorized capital are managed by the Cabinet of Ministers through the Ministry of Finance.
Recall
The Verkhovna Rada adopted in the first reading a draft law that provides for exemption from value added tax and customs duties on the import of goods for the production and/or repair of mechanized demining machines.