Rada passed public procurement law, which unlocked $3.5 billion in aid
The Verkhovna Rada has approved Bill No. 11520 on new public procurement procedures.
This was announced by Prime Minister Yulia Svyrydenko, according to Censor.NET.
What is known?
The decision was supported by 245 members of parliament.
"This is an important step toward continuing public procurement reform and increasing transparency in the use of public funds. The law is also part of the agreements with the World Bank and will allow Ukraine to unlock $3.5 billion in financial support," the prime minister noted.
Svyrydenko stated that the Cabinet of Ministers and the Verkhovna Rada will continue to work "to fulfill international obligations and secure international financing, which is critical for Ukraine’s budgetary stability."
The explanatory note states:
"The draft act was developed to ensure effective public procurement in a transparent and competitive manner, including to meet Ukraine’s reconstruction needs following a full-scale war, as well as to fulfill Ukraine’s international legal obligations in the field of public procurement."
