The Minister of Finance has introduced the new head of the Office for the Administration of International Financial Cooperation Projects

On December 27, 2016, Vasyl Stelmakh was appointed head of the Office for the Administration of International Financial Cooperation Projects at the Ministry of Finance. Ministry of Finance Oleksandr Danyliuk introduced the new manager to the team of the state institution “Office for the Administration of International Financial Cooperation Projects” which was created in 2015 to ensure the effective implementation of investment projects as well as international financial and technical assistance projects in priority areas.

“I have the honor to official introduce Vasyl Stelmakh who started his work in his new position on December 27. He is a professional with a significant experience in the banking sector. I hope that his experience will be used effectively and it will be done fast”, O. Danyliuk said.

Vasyl Stelmakh stressed in his greeting speech that the main focus of his work will be support to the German-Ukrainian Fund and that the Office will be making efforts to engage new partners and projects.

Personal data:
Mr. Stelmakh studied at the National Economic University in Kyiv named after V. Hetman where he received a master degree in banking in 2008.

Starting from 2006 Vasyl Stelmakh worked at Ukrainian banks with international capital: Raiffeisen Bank Aval (Austrian banking group Raiffeisen International) – from September 2006 till April 2008, and Piraeus Bank MCB (Greek banking group Piraeus Bank S.A.) – from May 2008 till December 2016.

His key area of responsibility in his banking career was the loan supply of small and medium-sized businesses as well as – starting from 2009 – corporate customers (including – starting from 2011 – big agricultural companies). His first area of responsibility was risk-management in loan supply; from May 2015 till December 2016 Vasyl Stelmakh worked as the head of the department for service to big corporate accounts where he was in charge for the management of the loans provided to the corporate accounts of the Piraeus Bank. Mr. Stelmakh was also a member of the credit committee at the Piraeus Bank.

In 2013 Vasyl Stelmakh received the degree “CIMA Advanced Diploma in Management Accounting” from the British professional association Chartered Institute of Management Accountants. He also completed the training program “Credit Academy of the Piraeus Bank group” established by the British education provider DC Gardner (now: Euromoney Learning Solutions) and conducted in Athens in 2011-2013.

Vasyl Stelmakh’s experience in management covers the period since 2010.

Mr. Stelmakh is fluent in English.

Additional information:

- state institution “Office for the Administration of International Financial Cooperation Projects” (DU “OFIS APMFS”) was created according to the order of the Ministry of Finance of Ukraine No. 1114 dated December 3, 2015;

- “OFIS APMFS” implements projects and programs related to international financial cooperation approved by the bodies of executive power in line with international and government agreements; it also implements agreements and accompanies financial and technical assistance projects in priority areas and sectors (including those supported by international financial organizations) aimed to develop and to strengthen the financial system and economy of Ukraine as well as to support small and medium-sized business in Ukraine and to provide services in investment consulting and asset management;

- “OFIS APMFS” manages the funds of the German-Ukrainian Fund (GUF) – a non-banking financial institution founded in 1999 with the aim to support the development of micro-, small and medium-sized businesses by granting them loans via Ukrainian banks. The GUF participants are the National Bank of Ukraine (31.3%), Ministry of Finance of Ukraine (31.3%) and the German Credit Institution for Re-Construction (KfW) (37.4%).