USAID/UKRAINE
Kiev, March 30th, 2005
Cabinet of Ministers/Reception Hall
The State Mortgage Institution of the Government of Ukraine and four Ukrainian counterparts of the Access to Credit Initiative funded by United States Agency for International Development (USAID) signed Protocols on Cooperation and Coordination today. The Protocols outline the significant activities that will be carried out by the signatories during the next five years.
The Access to Credit initiative (ATCI) is a five - year, fourteen million Dollar project funded by USAID. It concentrates on developing the mortgage market, the municipal bond market, building financial leasing capacity and the establishment of a credit bureau for Ukraine. The signing of the Protocols by the State Mortgage Institution, the Ukrainian National Mortgage Association; the State Committee of Housing and Communal Services, the Association of Ukrainian Cities & Communities, and the Ukrainian Leasing Association officially marks the launching of this unique multi-discipline program that will interface with an emerging domestic financial sector that includes a regulated stock market, and fixed – income instruments (bonds) - all fundamental elements of an emerging and robust economy.
USAID, as a developmental institution, has long promoted sound economic development and growth in support of democratic institutions and processes. With this conviction, USAID through its comprehensive global program promotes economic growth and development around the world.
Implemented by The Pragma Corporation, the project emphasis on mortgage, municipal finance, and leasing is designed to achieve several key objectives for Ukraine: namely, the development of a robust mortgage lending market; and development of a financial sector that operates in a manner similar to that of the most developed economies in the world where use of the capital markets provides for more efficient borrowing.
Since 1992, USAID has provided over $1.9 billion worth of technical and humanitarian assistance
in support of Ukraine’s democratic, economic and social transition. For more information about this program or about any of USAID’s assistance efforts, contact the USAID Program Office at
(044) 462-5678.
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