Ukraine is accelerating efforts to align its banking and insurance sectors with European Union standards by 2028, according to a Reuters report that cites central bank governor Andriy Pyshnyi.
"We have a large-scale programme of European integration," Governor Andriy Pyshnyi said, "We believe that the war and the transformation we're undergoing do not mean that we should slow down. Instead, it means that we should use it to accelerate progress."
Pyshnyi said Ukraine's banking regulations are now about 78% aligned with EU requirements, up from roughly 50% before Russia's full-scale invasion in 2022. The insurance sector remains less advanced, with compliance at about 55%, prompting an ongoing overhaul aimed at improving transparency, stability, and investor appeal.
The government and the World Bank estimate Ukraine's reconstruction and recovery costs will reach nearly $588B over the next decade. Pyshnyi said international financial aid is expected to total $53B in 2026, $42B in 2027, and $22B in 2028, assuming security risks decline.
"In other words, the amount of international financial aid will decrease if security risks reduce," Pyshnyi said, emphasizing that private capital will become increasingly important.
Officials are also drafting legislation to revive Ukraine's stock market and attract investors, while the central bank continues easing wartime foreign-exchange restrictions, shifting from emergency controls to a more risk-based framework to support businesses and investment flows.
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