New public investment system: how Ukraine will form a unified project portfolio

Introduction of a new public investment management system

According to Офіс реформ: In 2025, Ukraine introduced a new public investment management system. The main goal was to create a Unified State Project Portfolio of public investments (USP), aimed at systematizing and optimizing investment in state projects. Updated procedures were developed, and a mechanism for project preparation was launched, known as the Project Preparation Facility (PPF). This mechanism received support from the European Commission, the European Investment Bank (EIB), the European Bank for Reconstruction and Development (EBRD), and the World Bank.

Results and impact of the changes

In December 2025, the fifth meeting of the Inter-Agency Working Group on the Preparation of Public Investment Projects took place. The group included representatives from:

• Ministry of Economy, Environment, and Agriculture,
• Ministry of Finance,
• Ministry of Community and Territorial Development,
• Office of Reforms of the Cabinet of Ministers of Ukraine.

The Unified State Project Portfolio includes 195 projects and programs with a total value of 12.54 trillion UAH. The Office of Restoration and Reforms of the Cabinet of Ministers of Ukraine is part of the technical assistance program 'Architecture of Restoration and Reforms in Ukraine' (URA), which receives support from the Multilateral Donor Fund for the Stabilization and Sustainable Development of Ukraine, operating under the EBRD. These changes in the management of public investments will contribute to more effective use of budget funds and the implementation of significant infrastructure projects in the country.

The introduction of a new public investment management system in Ukraine is an important step towards increasing transparency and effectiveness in the use of public resources. The creation of a Unified Project Portfolio and support from international financial institutions indicate a growing attention to infrastructure investments, which can significantly impact the country's economic development. These changes may also stimulate private investment, which is critically important for the recovery and development of Ukraine's economy in the post-conflict period.