Financial stability is a key component to building capacity within the financial sector. Ensuring financial actors such as insurers can remain stable during crises is crucial to economic development and poverty reduction. There are many components to financial stability including supervising and regulating banks so they are solvent and stable, supervising and regulating non-banks, assisting in good governance practices, building institutional capacity, and comprehensive inclusion of marginalized communities.
The FSTA team designed several activities to help the National Commission for Financial Markets to respond to the COVID-19 crisis, preserving the financial stability of supervised entities (insurers in particular), and enhancing consumer protection measures.
Through the Ukraine Investment Potential Activity (IPA), IDG released a report titled “A New Ukraine: Catalyzing Investment in Freedom, Peace, and Prosperity.” The report was presented by Administrator Power during the 2023 United States-Ukraine Partnership Forum—a collaborative effort initiated by the United States Chamber of Commerce in conjunction with the Department of State, Department of Commerce, and USAID, and supported by the Embassy of Ukraine. The report serves as a clear and concise roadmap for the various stakeholders involved in reconstructing Ukraine’s economy. It outlines eight important reform areas, including establishing a competitive business enabling environment, expediting the country’s EU accession, strengthening institutions, and others, to propel the nation toward sustained growth and prosperity.
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