At the Ukraine Recovery Conference (URC), the Government of Ukraine, represented by the Ministry of Economy, Environment and Agriculture of Ukraine, the World Bank Group, and the European Bank for Reconstruction and Development (EBRD), signed a Memorandum of Understanding on cooperation in the transformation of state-owned enterprises and the attraction of strategic investors.
The memorandum is part of a broader public sector reform being implemented by the Government of Ukraine. Its goal is to improve the efficiency of state-owned companies, introduce modern corporate governance standards, strengthen transparency in the management of state assets, and create conditions for attracting private capital into state enterprises.
This cooperation aligns with the objectives of Ukraine’s State Ownership Policy, international corporate governance standards, and best global practices for transforming state assets. It is intended to help Ukraine move toward a model in which state-owned companies are not only managed efficiently but are also able to attract private capital for development, modernization, and value growth.
“Ukraine is already undergoing one of the most large-scale transformations of the public sector in its entire history of independence. We are implementing modern corporate governance standards, preparing state-owned companies to operate on market principles, and opening new opportunities for private investment. Partnership with the World Bank and the EBRD will help us accelerate these changes, strengthen investor confidence, and ensure practical preparation of investment projects that will support Ukraine’s economic recovery,” said Ukraine’s Minister of Economy, Environment and Agriculture Oleksii Sobolev.
Under the memorandum, the parties will cooperate in areas outlined in the document: reform and commercialization of state-owned companies, improvement of corporate governance, financial and operational restructuring, preparation of enterprises for due diligence, development of tools to attract private capital and capital markets, evaluation of reform performance, and coordination of international support for public sector reform.
Project cooperation
National Investment Fund. The parties will develop a model for a modern investment mechanism for the professional management of state corporate assets. This tool is intended to help the state increase the capitalization of state-owned companies, implement modern asset management approaches, and create opportunities for attracting long-term private capital.
Partial privatization model. Cooperation also includes the development of approaches to attracting private capital into state-owned companies, including a partial privatization model. This involves designing mechanisms that allow the state to increase the investment attractiveness of companies, define optimal models of private participation, ensure fair market valuation of state shares, and create conditions for long-term partnerships with investors.
This will make it possible to mobilize additional private capital for the development of state-owned enterprises, improve asset management efficiency, support modernization, and create greater economic value for the state.
“Ukraine has significant potential in the public sector—industrial, infrastructure, and human. Our task is to unlock this potential through modern management, financial sustainability, and transparent mechanisms of cooperation with investors. Therefore, it is important for us to work with international partners not only on policies but also on the practical preparation of investment decisions capable of delivering concrete results for Ukraine’s economy and communities,” said Deputy Minister of Economy Daryna Marchak.
The signing of the memorandum confirms the shared vision of Ukraine, the World Bank Group, and the EBRD: sustainable economic recovery requires systemic reforms, modern models of state asset management, and effective mechanisms for attracting private capital. Such approaches are expected to ensure long-term economic growth in Ukraine and increase its investment attractiveness.
