12. May 2014

Ukraine sets up a new Business Ombudsman with support from the Basel Institute

On 12 May 2014, the Government of Ukraine signed a Memorandum of Understanding (MoU) with the European Bank for Reconstruction and Development (EBRD), the Organisation for Economic Cooperation and Development (OECD) and several business associations, addressing bribery and promoting transparency and accountability.

Mandated by the EBRD to develop a mechanism to address unfair business practices and bribery for the purpose of improving the overall business climate in Ukraine, including prospects for foreign investment, the Basel Institute assisted in the set up of this MoU.

The MoU outlines the roles and responsibilities of a new independent Business Ombudsman Institution that will serve as a first point of contact for businesses enabling them to lodge complaints arising from unfair treatment of issues of corruption. The Basel Institute will continue to support and advise the parties on the details of implementation of the Business Ombudsman Institution and help it to achieve its goals.