During its meeting on Wednesday, October 8, the Verkhovna Rada, Ukraine’s parliament, approved the second reading of bill No. 11238, which outlines the creation of the National Development Institution (NDI). This decision marks a significant step in Ukraine’s economic strategy, as the NDI is intended to function similarly to Germany’s Kreditanstalt für Wiederaufbau (KfW), a well-established development bank known for its role in supporting infrastructure and long-term economic projects.
Danylo Hetmantsev, chairman of the parliamentary finance committee, emphasized the importance of the law, stating that the NDI will be crucial in driving Ukraine’s economic development. The institution is expected to provide financing for critical infrastructure projects, support small and medium-sized enterprises, and contribute to the country’s recovery and modernization efforts. Hetmantsev noted that the legislation aligns with Ukraine’s broader goals of strengthening its economy and improving public services.
The adoption of the bill indicates a growing consensus among Ukrainian legislators regarding the need for a dedicated development institution. While the exact structure and operational framework of the NDI have not been detailed, the law opens the door for further discussions on its role and function. Analysts suggest that the NDI could play a vital part in attracting foreign investment and fostering sustainable economic growth in Ukraine.