NBU transfers GUF to managements of Finance Ministry

09:29, 31.12.2015 1 min read

The National Bank of Ukraine (NBU) has transferred powers to manage the German-Ukrainian Fund (GUF) to the Office of Administration of Projects on International Financial Cooperation specially created by the Finance Ministry.

The central bank said on its website that the NBU, GUF and the Office signed the transfer documents on December 24, 2015.

"The GUF was transferred as part of the organization transformation of the central bank and the removal of non-profile functions," Deputy NBU Governor Vladyslav Rashkovan said.

He said that according to NBU resolution No. 879 of December 10, 2015, the department of the regulator that managed the GUF will be abolished from January 1, 2016.

The GUF is a non-profit financial organization, founded by the NBU, the Finance Ministry of Ukraine and German KfW Development Bank to promote micro, small and medium enterprises (MSME) in Ukraine.