Parliament Accepted MinFin's Proposal to Settle Issue of Spending Funds from the NBU Accounts to Support Ukraine

On April 11, the Parliament adopted a draft law amending the Budget Code of Ukraine regarding the use of funds from donation accounts to support Ukraine.

In particular, the document proposes:

o   distribution and spending of such funds according to clear budget rules within the framework of budget programs of the special fund of the State Budget;

o   monthly reporting on receipts and use of funds for each of the accounts opened at the NBU and control over their use in accordance with the budget legislation;

o   publication on the official websites of the main spending units the amounts of voluntary contributions received, the list of purchased goods and services.

“The draft law adopted by the Parliament allows for the use of voluntary contributions from individuals and legal entities that are accumulated in the accounts of ministries at the National Bank of Ukraine in a more coordinated and accountable manner. This step is also very important for our international partners, as evidenced by its inclusion in the new cooperation program with the International Monetary Fund. Accountability, transparency and efficiency of the use of such funds are an important guarantee of their further receipt both from official donors and from businesses, charitable organizations and citizens,” said First Deputy Minister of Finance Denys Uliutin.