The council of the business ombudsman, with the support of the European Bank for Reconstruction and Development (EBRD) and the Organization for Economic Cooperation and Development (OECD), has presented the Ukrainian network of integrity and compliance, a new initiative for business that seeks to work transparently.

According to an Interfax-Ukraine correspondent, 46 Ukrainian and international companies in Kyiv on May 19 signed a declaration of integrity and will jointly form the principles and rules of the network.

The declared goal of creating the network is to promote the idea of ethical and responsible business doing: the network member companies agree to maintain an impeccable business reputation and constantly improve standards of integrity in accordance with the best world practices.

It is assumed that the network members will work together to assess anti-corruption risks for implementing compliance programs in their organizations, attract business representatives to discussing principles of integrity, increase interest in transparent business doing among market participants, and regularly confirm the level of their integrity.

Business Ombudsman Algirdas Semeta, who initiated the creation of the network, informed the agency its participants plan by mid-autumn to work out a model within the framework of which they will confirm and verify the fulfillment of commitments undertaken within this initiative.