The Verkhovna Rada has adopted in principle Bill No. 11474 regarding the privatization of state banks.
249 deputies voted in favor. The bill expands the pool of potential investors and updates the rules for pricing and conducting auctions.
“This is a requirement from the World Bank, so the law must be passed in two readings by September,” writes MP Yaroslav Zheleznyak.
The bill proposes:
- Expanding the pool of potential investors;
- Allowing the sale of any stake in a state bank (not just 100% of state shares);
- Raising the requirements for legal entities that can act as financial advisors;
- Including international donors in the selection of financial advisors;
- Updating the rules for determining prices and conducting auctions according to World Bank recommendations.
