Access to Financial Services Project. Unit for Preparation and Management of the Rural Finance Project operates in Ukraine.
The project will include the following components:
Part A: Development of the Policy and Legal Framework
1. Development of a mortgage finance market, including: (i) the carrying out of an assessment of the feasibility of establishing a second-tier mortgage institution; (ii) the development of standards and regulatory requirements for performance of mortgage finance operations by banks; and (iіі) the provision of training for bank personnel, and other mortgage finance market participants. 2. Development of a credit bureau, including: (i) the preparation of a feasibility study (including legislative requirements, organizational and legal form, capital requirements, and institutional requirements) thereof; (ii) the finalization of a draft law on credit bureau, the development of draft laws on information disclosure, and the introduction of relevant amendments to the Law of Ukraine ”On Bank and Banking”; and (ііі) the development of a database for the credit bureau. 3. Development of a registry of encumbrances, including: (i) the preparation of a feasibility study thereof; (ii) the development of the necessary draft normative and legal acts and information systems; and (ііі) provision of the training for operation and maintenance of the registry. 4. Development of a commercial registry, including: (i) the development of a proposal model and a procedures for introduction of the said registry; (ii) the preparation of a legal strategy (including necessary amendments to legislation) for introducing the registry; and (ііі) the provision of training in operation and maintenance of the registry. 5. Development of a credit rating system, including: (i) the design of a model and procedures for introduction of such system; and (ii) the development of legislation and regulatory requirements for disclosure of information by market participants and use of a credit ratings. 6. Development of an entity for regulation and supervision of non-bank financial institutions (NDFI), including: (i) the development of an appropriate regulatory framework for NBFI activities; (ii) the development of information systems for such an entity; and (ііі) the provision of the required training for the personnel to be retained by the entity. 7. Development of the legal framework for leasing, including: (i) the preparation of the draft laws and amendments to existing legislation pertinent to leasing (including on taxation issues); (ii) the development of regulatory requirements for leasing operations; and (ііі) the provision of training on leasing for market participants. 8. Development of a suitable cooperative banking (banks and credit unions) system, including: (i) the design of a possible model for such system; and (ii) the development of the normative and legal acts and regulatory requirements for cooperative banking and credit union activities.
Part B. Project Preparation and Management
Strengthening of the Project Preparation Unit (PPU) so as to enable it to properly manage the Activities, including the provision of technical assistance, training, software, and office equipment and supplies, as required specifically for: (i) the development and setting up of suitable Project procurement and financial management systems and the carrying out of the audits under the Advance; and (ii) the carrying out of Bank- financed Project monitoring, financial management, and procurement, financial sector development, related dissemination activities, including delivery of seminars and provision of training to potential Project participants, and the preliminary selection of banks and other financial institutions eligible to participate in the Project
