On January 31, First Deputy Minister of Economy Oleksii Sobolev chaired the first meeting of the Project Preparation Unit for Public Investment Projects (PPU).
The working group will serve as an advisory body to the Cabinet of Ministers of Ukraine. It will act as the interface between the Public Investment Management (PIM) system and the various Project Preparation Frameworks (PPFs).
“Our goal is to increase the number of well-prepared public projects. At the first meeting, we approved the group’s personnel, set priorities and a work plan for the first quarter of this year. In the future, we also plan to involve representatives of international financial organisations,” said Oleksii Sobolev.
The main tasks of the PPU:
– Facilitating coordination of actions of central and local executive authorities, other state bodies, local governments, international financial institutions, foreign and EU governments that have implemented Project Preparation Frameworks (PPFs), as well as other stakeholders in the project preparation process;
– Ensuring coordination with IFIs, foreign governments and the EU within the established PPFs;
– Increasing the number of projects ready to attract funding that meet the priorities of the Government of Ukraine and the standards set in line with Ukraine’s commitments to approximation with EU legislation;
– Monitoring the use of PPFs funding, in particular to prevent double funding of projects, including from the European Union, other donors, state or local budgets;
– Supporting the Strategic Investment Council in implementing strategic priorities of public investment, in particular in attracting funding for PPFs and allocating projects between PPFs.
The PPU will play an important role in ensuring the efficient and transparent preparation of public investment projects as part of the national recovery and reconstruction. The group will be integrated into the wider Public Investment Management (PIM) system, which aims to improve the implementation of investment projects.
The group includes representatives of the Ministry of Economy, the Ministry of Finance, the Ministry for Communities and Territories Development, the Recovery and Reform Delivery Office under the Cabinet of Ministers of Ukraine and reform support offices. (Government portal)