Ukraine’s financial system and corporate sector have remained resilient in the face of extraordinary challenges. Four years of Russia’s war of aggression against Ukraine have imposed immense human and economic costs, yet the swift response of Ukrainian authorities has preserved financial stability under wartime conditions. The authorities have successfully maintained market functioning and confidence through sound policies and timely regulatory measures. International organisations and partner countries have also provided necessary support, but the effectiveness of Ukraine’s domestic policy response remains a key factor behind this resilience.
Nevertheless, Ukraine continues to face major challenges. As the costs of reconstruction continue to climb, Ukraine will need to mobilise domestic and international private financing at a very large scale. Deep and efficient financial markets will be crucial to ensure that funds are deployed to the most productive uses. At the same time, Ukraine will need to ensure that the corporate sector is functioning effectively to build a resilient economy that contributes to the country’s long-term development. War conditions also challenge consumers and households, many of whom face financial distress and are more exposed to risks, such as financial cyber-crime.
To support these objectives, the OECD worked with Ukraine in 2024-26 to strengthen its financial markets and corporate governance framework. As an institution established after the Second World War to support reconstruction and development in Europe, the OECD is well placed to provide evidence-based policy analysis and recommendations to support a strong, swift and sustainable recovery.
This report provides policy recommendations to help Ukraine achieve these objectives, focusing on five inter-linked policy areas: Ukraine’s financial system framework (Chapter 2); corporate governance policies and practices (Chapter 3); public debt management (Chapter 4); financial consumer protection and financial literacy (Chapter 5); and asset-backed pensions (Chapter 6).
The report builds on analysis presented in the OECD report Mapping Ukraine’s Financial Markets and Corporate Governance for a Sustainable Recovery published in January 2025, consultations with Ukrainian stakeholders, contributions from international experts, discussions during a series of workshops with experts from Ukraine and peer countries and a roundtable on strengthening Ukraine’s financial markets and corporate governance held in December 2025.