Ukraine Capital Markets Project
AECOM International Development is assisting in the implementation of the USAID-funded Ukraine Capital Markets Project (CMP). CMP Is a 5-year program designed to assist in creating a vibrant and effective financial sector that will sustain economic growth and reduce the costs and risks to a sound pension system. CMP's activities are organized around three major issue areas: capacity building in the public and private sectors; financial instruments development; and pension system reform. AECOM International Development, as the primary international subcontractor, is playing an integral part in the achievement of the project objectives, with particular responsibility for the pension fund sector.
CMP continues our previous work assisting the Government of Ukraine's pension reform efforts, which we performed under the Ukraine Pensions Reform Project. Through that project, we drafted reform laws, introduced regulations for private pension schemes, and developed IT systems to allow faster processing of social insurance returns. More than 11,000 pension workers were trained in new procedures, and we participated in public education initiatives, including an information phone line and radio broadcasts.
Major Results
- Helped establish a comprehensive framework for a reformed pension system
- Established regulatory mechanisms to ensure smooth operation of the new system
- Enable the Government of Ukraine to greatly exceed its goal of issuing 10 million social security certificates
- Facilitated reform implementation process through large-scale employee training and public education efforts
