The European Bank for Reconstruction and Development has launched a project on technical cooperation with the Individuals Deposit Guarantee Fund, and the advisor in it is KPMG-Ukraine LLC.

The fund said on its website that the project is aimed at providing assistance to the fund in work intended to increase the potential and opportunities when the fund implements its rights and duties. Cooperation will be in the form of providing practical assistance, expert support and consultations. It is planned to improve and adapt operations of the fund to suit legislation and modern challenges.

According to the report, after the implementation of the project phases it is planned to draw up the financial reporting organization policy in line with international financial reporting standards (IFRS) and a concept to introduce the comprehensive managers' report shaping system. This will contribute to the high-quality process of making decisions by the executive directorate and administrative council of the fund.

It is planned to form the internal potential of the fund in the appraisal and bad assets sale spheres, provide support in creating IT infrastructure and introducing measures aimed at increasing effectiveness of the fund's work.

The project envisages the provision of legal aid in meeting the requirements in amendments to the laws and regulatory documents.