The Verkhovna Rada has adopted bill No. 11520, which introduces updated procedures in the field of public procurement. This decision is a key step towards continuing the procurement reform and increasing the transparency of public finance usage.
This is reported by Finway
“The law is also part of the agreements with the World Bank and will allow Ukraine to unlock $3.5 billion in financial support,” said the head of government.
Importance of the Law for International Support
Prime Minister Yulia Svyrydenko emphasized that the adoption of the new law will enable Ukraine to receive a significant amount of international financial assistance. According to her, the government will continue to cooperate with the parliament to fulfill international obligations and attract resources for the country’s recovery. The bill was supported by 245 members of parliament, while 11 voted against it.
Updating Rules and Electronic Procurement
As noted in the explanatory note signed by Svyrydenko, the current version of the law “On Public Procurement” no longer meets modern needs, particularly in light of the necessity to rebuild the country after the full-scale war and to comply with international standards. The new law creates legal prerequisites for the effective conduct of public procurement, especially with the use of an electronic system, which is important for transparency and control in the post-war period.
The bill was approved in the first reading back in September 2024 and received broad support from the parliament during the final consideration on May 27.