Public investment management reform changes approaches to planning, evaluating, budgeting, implementing, monitoring, and auditing public investments at all levels, from the state to the community. This will help to more clearly identify sources of funding and procedures for implementing public investment projects, including the attraction of loans and credits from foreign partners.

Public investment management reform is the foundation for Ukraine's transparent and effective recovery. We are building a system where every hryvnia works for results. This is a step towards strategic investment in the country's development and recovery.

In December 2023, the Government of Ukraine adopted the Roadmap for Reforming the Public Investment Management System. Since then, the reform has been officially launched. The first, transitional, stage of the roadmap is currently being completed, and a new public investment management model will be implemented starting in 2026.

What has been achieved in the two years since the reform was launched?

The concept and procedures for public investment management have been legislated. The Law of Ukraine “On Amendments to the Budget Code of Ukraine Regarding the Updating and Improvement of Certain Provisions” of January 16, 2025, defines the link between the public investment management system and medium-term budget planning, which is based on compliance with the state development strategy.

Reform management architecture: a Strategic Investment Council chaired by the Prime Minister and an Interdepartmental Working Group on Reforming the Public Investment Management System have been established. The first project preparation programs were launched with the support of the World Bank, the EIB, and the EBRD.

The Medium-Term Plan for Priority Public Investments for 2026-2028 was approved, along with the Budget Declaration for 2026-2028.

The Medium-Term Plan identifies 12 sectors for public investment: transport, municipal infrastructure and services, housing, energy, education and science, health care, social sphere, legal activities and the judiciary, public finances, environment, digitalization, and public safety.

At the local and regional levels, the development of similar plans has already begun. Local and regional authorities are developing medium-term plans based on their own development strategies for 2027, taking into account regional priorities for recovery, targets, financing needs, and the availability of funds, among other factors.

The architecture and logic of public investment management at the national, regional, and local levels were established and approved by Resolution of the Cabinet of Ministers of Ukraine No. 527 “On Certain Issues of Public Investment Management” dated February 28, 2025.

A public investment management reform module has been developed and a pilot Unified Project Portfolio of Public Investments for 2025 has been formed on the DREAM platform. The platform allows tracking every step from the formation of a medium-term plan, preparation, assessment, formation of sectoral portfolios and the EPP at the state, regional and local levels to decisions on the allocation of funding and the implementation of works.

In parallel with the development of the regulatory framework, we are working to strengthen institutional capacity and provide training at all levels, prepare guidelines and other educational materials on public investment project and program management.

Training programs and qualification programs for investment management specialists have been developed accordingly. Over 470 specialists have already been trained in the methodology of five case studies. The Ministry for Development held seven regional events to explain the logic of the reform and teach how to work with public investments.

"Investment management reform is the result of hard work. We have adopted key laws, approved the Medium-Term Plan, and are currently developing the EPP2026. All of this is the foundation for systematic and effective recovery. We are turning plans into real projects that are changing the lives of Ukrainians," emphasizes Deputy Minister of Community and Territorial Development Marina Denysiuk.

The introduction of clear rules and tools will make it possible to evaluate and prioritize projects, taking into account data on losses, needs, and financial plans. This is critical for strengthening trust both within the country and among international partners — and for Ukraine's recovery.

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