On March 1, the Ministry of Finance jointly with the Japan International Cooperation Agency (JICA) conducted a workshop dedicated to the Settlement Mechanisms for NPL in the State Banking Sector with an emphasis on Japanese Experience .
The workshop was attended by Yuri Heletiy, Deputy Minister of Finance of Ukraine responsible for European integration, and Takema Sakamoto, General Director of the JICA Department for Middle East and Europe, Takaaki Kavano, Head of the JICA Ukrainian Office, Mykhaylo Dovbenko, First Deputy Chairman of the Parliament’s Committee for Financial Policy and Banking, as well as representatives of the Embassy of Japan to Ukraine, Embassy of Sweden to Ukraine, IMF, World Bank, National Bank of Ukraine, EBRD, Ukreximbank, Oshchadbank and representatives of the relevant departments of the Ministry of Finance of Ukraine.
JICA provides financial and expert support to the Ministry of Finance, including assistance in developing strategies for the management of non-performing loans (NPLs) in the state banking sector.
During the workshop, the JICA experts shared the working experience of the Japanese company “Resolution and Сorrection Corporation” in handling NPLs in the Japanese banking sector and presented the due-diligence analysis of state-owned banks.
In his welcome speech, Deputy Minister of Finance of Ukraine Yuri Heletiy thanked the Japanese delegation members for their cooperation and organization of the workshop. He also said: “The settlement of non-performing loans at state-owned banks is now one of the priorities of the Ministry of Finance concerning the reform of the state banking sector. We hope that our international partners will help us find an optimal solution to settle non-performing loans in the state banking sector as well as adopt necessary regulations. Our current priority is to develop and to extend tools for handling non-performing loans.”
Takema Sakamoto, General Director of the JICA Department for Middle East and Europe, pointed out that Ukraine was an important partner for JICA. According to Mr. Sakamoto, further cooperation with Ukraine in the financial sector and in the implementation of infrastructure projects belongs to the priority tasks of JICA. This is why JICA has been actively engaged in Ukraine for more than 20 years providing financial and expert support.
The Japanese agency JICA is a worldwide known Japanese governmental organization providing technical aid, grants and loans at preferential terms to the governments of other countries. In the autumn of 2017, JICA opened its regional office in Ukraine as a step towards enhancing the economic relations between the two countries.
Presently, JICA is implementing several large-scale infrastructure projects in Ukraine including the development of Boryspil international airport, modernization of the sewage processing facility in Bortnychi and other technical aid projects (including trainings).