The Cabinet of Ministers of Ukraine plans to raise $500 million from the International Bank for Reconstruction and Development (IBRD, the World Bank group) under the First Development Policy Loan (DPL1) systemic project.

The goals of attracting the funds are stipulated in cabinet resolution No. 610-r of June 25, 2014 posted on the government's Web site.

According to the document, the Economic Development and Trade Ministry is responsible for the preparation of the systemic project in general.

The Individuals' Deposit Guarantee Fund, the National Bank of Ukraine (NBU) and Finance Ministry are responsible for the strengthening of the operation, financial and regulatory possibilities of the Individuals' Deposit Guarantee Fund in settling problems with insolvent banks.

The NBU and Finance Ministry are responsible for increasing the solvency of the banking system via the realization of recapitalization/restructuring plans of banks and the timely realization of administrative measures.

The NBU is responsible for strengthening the legal and institutional basis for increasing stability and efficiency of the banking system.

The government also approved a draft letter of the NBU to the World Bank on the development policy in the financial sector.