• Українською
  • Roadmap for public investment management reform approved

    The document envisages that the state digital ecosystem DREAM will become a bank of public investment projects that meet national and regional development priorities.

    “The overall structure of the DREAM ecosystem, its principles and tools ensure the accountability of the restoration and modernisation process. In addition, they will contribute to greater transparency of investment projects and we are actively cooperating with international partners in this area,” said Oleksandr Kubrakov, Deputy Prime Minister for Restoration of Ukraine and Minister for Communities, Territories and Infrastructure Development.

    The Roadmap has been developed based on the recommendations of the World Bank, the IMF and European best practices. The document ensures the planning of investment projects based on strategic priorities, the selection of projects on the basis of uniform and transparent procedures, and their implementation within the planned timeframe and financing. This approach will have a direct impact on the implementation of recovery and development projects at both national and local levels.

    The Roadmap provides for:

    • making decisions on public investments as part of strategic and medium-term budget planning and establishing a Strategic Investment Council;
    • extension of public investment management procedures to all investment projects related to reconstruction, recovery and development through a single definition of a public investment project;
    • unification of approaches to the evaluation and selection of public investment projects, regardless of sources and mechanisms of financing, and the creation of a single project “portfolio” to ensure prioritisation and access to financing;
    • assessment by the Ministry of Finance of the financial sustainability of public investments and strengthening the management of relevant fiscal risks;
    • building public investment management capacities at the central and local levels, etc.

    One of the priority areas of work envisaged by the Roadmap is the creation of a unified IT ecosystem based on the updated methodological framework for public investment management, which will include the Digital Restoration Ecosystem for Accountable Management, DREAM.

    DREAM is expected to become a bank of public investment projects that meet the strategic priorities of national and regional development, as well as to ensure effective monitoring of their implementation.

    In particular, DREAM will include:

    • an approved list of priority investment projects made by the investment commission, taking into account the Ministry of Economy’s guidelines for prioritising, evaluating and selecting projects;
    • the results of investment project appraisals conducted by the Ministry of Economy and relevant line ministries;
    • monthly and quarterly monitoring reports on the implementation of public investment projects;
    • project completion reports, which will be available for analysis and consideration in the development of similar projects.

    In addition, DREAM will provide a set of technical tools to facilitate project preparation and evaluation.

    For more information on the Roadmap for Public Investment Management Reform, please follow the link (in Ukrainian).

    The Ministry for Communities, Territories and Infrastructure Development, the Agency for Restoration and Infrastructure Development, and the DREAM Project Office, established on the basis of the Open Contracting Partnership with the support of Transparency International Ukraine and the BRDO, in close cooperation with civil society and international partners, are developing and implementing the state electronic ecosystem DREAM. The ecosystem provides a single digital route for all reconstruction projects. The development of the system is currently funded by the UK Government.

    The pilot version of the system, administered by the Agency for Restoration and Infrastructure Development, has been operating since the beginning of 2023 as part of the DREAM ecosystem pilot project approved by the Cabinet of Ministers of Ukraine in Resolution No. 1268. More than 500 communities from different regions of Ukraine have joined the pilot project on a voluntary basis.