The overall objective of the Twinning Project is to contribute to the macroeconomic stability of Ukraine through institutional strengthening of the National Bank of Ukraine (NBU), and building a reliable banking and payments infrastructure for economic operators.

Specific Objectives of the Project:
1) Strengthen the NBU capacity as a bank supervisor in performing Supervisory Review Evaluation Process (SREP) assessments, improving the supervisor’s ability to evaluate characterizations for risks
2) Implementation of instant payments in line with the EU Payment Services Directive 2 (PSD 2)
3) Institutional strengthening of the NBU by further developing its strategic planning and international cooperation functions
4) The NBU international cooperation function is strengthened, in particularly regarding the implementation of the Association Agreement.

Goal 1: Further transposition of Basel Core Principles for Effective Banking Supervision
Result: Transposition of Basel Core Principles for Effective Banking Supervision and the EU capital requirements legislation in the area of:
1) internal capital adequacy assessment process (ICAAP)
2) internal liquidity adequacy assessment process (ILAAP)
3) assessment of the banks’ risk profiles through the Supervisory Review and Evaluation Process (SREP)

Goal 2: Instant Payment Settlement System
Result:
1) model development for the instant payments architecture in Ukraine
2) road map to implement the model

Goal 3: Institutional strengthening through the establishment of:
1) integrated system of strategic planning
2) execution
3) monitoring
4) process-based model of planning
5) management
Result: Introduction in the NBU process-based planning and management model, including a performance management system

Goal 4: Strengthening of the NBU international cooperation function and capacity in the area of European integration of Ukraine
Result: Strengthening the NBU international cooperation function in particular with regard to the implementation of the Association Agreement