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LAW OF UKRAINE

of October 8, 2025 No. 4622-IX

About National institution of development

This Law determines legal status and bases of activities of National institution of development.

Article 1. Legal status of National institution of development

1. The national institution of development is legal entity of private law.

2. The national institution of development is financial institution with special status which activities are regulated by this Law, regulatory legal acts adopted on its accomplishment and the charter of National institution of development.

3. The national institution of development can acquire the property right and other corporeal rights to money, securities, real and personal estate, and also intangible assets (the non-material benefits).

The national institution of development can have the isolated property, separate balance, accounts in banks and other financial institutions of Ukraine, foreign financial institutions and the central executive body realizing state policy in the field of treasurer servicing of budgetary funds and also stamps, seal and the corresponding forms with the name.

4. The national institution of development can be the founder or the member (shareholder) of other legal entities, to open branches and representations in Ukraine and in foreign states for accomplishment of the purposes determined by this Law and the charter of National institution of development.

5. The national institution of development is the non-profitable organization and performs the activities without the profit earning purpose.

The national institution of development is forbidden to distribute the gained income (profits) or their parts among participants, employees of National institution of development (except payment of their work, charge of single social fee), members of governing bodies of National institution of development and other related persons.

The term "connected persons" is used in this Law in the value given in the Tax code of Ukraine.

Income (income) and means of National institution of development are used only for financing of the expenses and expenses of National institution of development connected with realization of its activities according to article 2 of this Law, and also maintenance costs of National institution of development taking into account restrictions, the stipulated in Article 3 presents of the Law.

6. The words "National Institution of Development" are allowed to be used in the name only to the legal entity performing activities according to this Law.

Article 2. Purpose and types of activity of National institution of development

1. Main objective of activities of National institution of development is assistance to economic and social development and recovery of Ukraine by ensuring provision of financial, information, consulting and other support to subjects micro - small and medium entrepreneurship and to other target groups; development, realization (maintenance, administration) and efficiency analysis (impact assessment) of programs and projects of development or support of subjects micro - small and medium entrepreneurship and other target groups, support to which gives National institution of development (further - programs and projects of development or support).

2. The national institution of development performs activities with:

1) provision of such financial services:

a) provision of means on credit;

b) provision of guarantees;

c) dealer activities in the capital markets (the conclusion of derivative contracts and transactions on financial instruments on its own behalf and on own account);

2) provision of grants, other types of free and irretrievable financial aid (except the types of activity determined by Item 3 of this part) within target financing at the expense of the means received from the sources provided by Items 3 and 6 of part one of article 4 of this Law;

3) compensations of interest rate, the main amount and/or other payments on the credits, financial leasing, factoring, guarantees, compensations of insurance premiums, insurance payments, insurance premiums;

4) development, maintenance and administration (participation in development, maintenance and administration):

a) state, regional and local programs and projects of development or support;

b) projects of the international technical assistance;

c) projects of the international and foreign financial organizations;

d) projects of foreign states (except the states performing the armed aggression against Ukraine in the value given in article 1 of the Law of Ukraine "About defense of Ukraine"), the European Union and its bodies;

") other programs and projects of development or support;

5) mediations in distribution of the money allocated for ensuring accomplishment of programs and the projects implementation determined by item 4 of this part between financial institutions;

6) carrying out efficiency analysis (impact assessment) programs and projects of development or support, investment researches, financial analysis, in particular by collection and data exchange, or provision of any other recommendations or consultations connected with implementation of activities development by National institution including in interaction with the Cabinet of Ministers of Ukraine, the central executive bodies, the National Bank of Ukraine, partner organizations, local government bodies;

7) supports and/or holding educational actions for the purpose of ensuring awareness of subjects micro - small and medium entrepreneurship, receipt of skills and knowledge by them concerning risks, responsibility and opportunities connected with use of financial services and also technical assistance;

8) investing activities, in particular by acquisition of securities, according to own investment policy;

9) other types of activity (except activities for provision of financial services, others what determined by Item 1 of this part, and activities in the field of production of goods and trade) which do not contradict the legislation, answer the purpose of activities of National institution of development and are performed according to solutions of the Supervisory board of National institution of development.

3. The financial services provided by subitems "and" and Item of 1 part two of this Article, National institution of development has the right to provide to exclusively financial institutions.

The activities provided by the subitem "v" of Item of 1 part two of this Article the National institution of development has the right to perform to own advantage for realization of own investment policy.

The financial services provided by subitems "and" and Item of 1 part two of this Article, National institution of development has the right to provide without licensing (authorization) by the National Bank of Ukraine. The activities provided by the subitem "in" Item of 1 part two of this Article are not subject to licensing according to the Law of Ukraine "About the capital markets and the organized goods markets".

4. The national institution of development provides financial services and performs other types of activity on paid basis.

When forming cost of services the National institution of development shall provide adequacy and efficiency of its activities according to the best international practicians.

Article 3. Forming and use of own means of National institution of development

1. Own means of National institution of development for the purposes of this Law are:

1) fees of members of National institution of development in its authorized capital;

2) receipts from provision of financial services and implementation of other types of activity provided by part two of article 2 of this Law in the form of payment in any form for the provided services, the income from investing activities;

3) receipts from use and the order of property of National institution of development, including its transfer to lease, sales and other order property of National institution of development according to the procedure, determined by the legislation;

4) the means gained by National institution developments from the sources determined by article 4 of this Law except the means received according to part three of this Article.

2. Own means of National institution of development determined by part one of this Article are used only for:

1) provision of financial services and implementation of other types of activity provided by part two of article 2 of this Law is exclusive for the purpose of provision of financial and other support to subjects micro - small and medium entrepreneurship;

2) financing of maintenance costs of National institution of development (including for insurance and risk minimization of activities of National institution of development) and legal entities, the founder (participant) of which is National institution of development, and also branches, the representative offices of National institution of development which are based/opened according to part four of article 1 of this Law;

3) investment of means which cannot be temporarily used for implementation of types of activity, stipulated in Item 1 this part, according to Item 8 parts two of article 2 of this Law in the way:

a) placement on supplementary (deposit) accounts;

b) acquisition of government bonds of Ukraine;

c) acquisition of the debt securities emitted:

the international organizations and the central executive bodies of the countries having credit rating on the international scale it is not lower than the level "of AA - "on classification of rating agency" Standard&Poor "S" or rating agency "FitchRatings" or level "Aa3" on classification of rating agency of "Moody" of sInvestorsService";

other subjects having credit rating on the international scale it is not lower than the level "of AA - "on classification of rating agency" Standard&Poor "S" or rating agency "FitchRatings" or level "Aa3" on classification of rating agency of "Moody" of sInvestorsService";

d) acquisition of foreign currency.

3. The money gained by National institution developments in specific purpose does not belong to own means of National institution of development and is used only according to their purpose.

Article 4. Sources of forming of means of National institution of development

1. The national institution of development performs the activities at the expense of the means received from the following sources:

1) in the form of the credit from suppliers of the financial services having the right to provide service in provision of means and bank metals on credit;

2) in the form of loan with observance of requirements of the legislation;

3) in any form from the state, local government bodies, foreign states (except the states performing the armed aggression against Ukraine in the value given in article 1 of the Law of Ukraine "About defense of Ukraine"), the European Union and its bodies, the international organizations, the organizations of international cooperation and development, in particular development banks, foreign financial institutions and members of National institution of development;

4) for the asset account, confiscated or withdrawn in a different way from the states performing the armed aggression against Ukraine in the value given in article 1 of the Law of Ukraine "About defense of Ukraine" and/or the income from such assets;

5) from carrying out financial instrument transactions (except deposit and savings certificates of bank) according to the Law of Ukraine "About the capital markets and the organized goods markets";

6) in the form of charitable fee, donation, grant, irretrievable financial aid, the international technical assistance with observance of requirements of the legislation.

Article 5. Conditions and principles of implementation by National institution of development of the activities

1. The national institution of development can provide financial services and perform other types of activity, the stipulated in Article 2 presents of the Law, including on the conditions which are not the current market conditions (on favorable terms) on condition of observance of requirements for risk management and other requirements determined by this Law, regulatory legal acts of the National Bank of Ukraine and the Supervisory board of National institution of development.

Activities for support of subjects micro - small and medium entrepreneurship and other target groups, support to which is given by National institution of development, at the expense of resources of the state or local resources is performed by National institution of development taking into account provisions of the Law of Ukraine "About government assistance to subjects of managing".

2. Target groups, support to which is given by National institution of development, are:

1) the primary target group which creditworthy subjects micro concern - small and medium entrepreneurship which correspond to the following criteria:

a) have the potential for development of economy of Ukraine or type of economic activity or the direction them activities are priority for economy of Ukraine;

b) because of imperfection or backwardness of market mechanisms, crisis or other circumstances opportunities to receive financing on available conditions are deprived;

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