INTERNATIONAL REGIONAL FINANCIAL ORGANIZATIONS AND THEIR COOPERATION WITH UKRAINE
DOI:
https://doi.org/10.26565/2075-1834-2025-40-33Keywords:
international law, international economic law, state, international organizations, international financial organizations, international cooperation, international economic cooperationAbstract
Introduction. Ukraine's cooperation with regional economic organizations is a key factor in the integration of states into the world economic space and strengthening its international status as one of the leading states of Central and Eastern Europe. In modern conditions of globalization and regionalization of international relations, regional organizations, such as the European Union (EU), the Organization for Democracy and Economic Development - GUAM, the Organization of the Black Sea Economic Cooperation (BSEC), as well as international financial institutions of a regional nature (EBRD, EIB, BSTDB), act as advertising partners. Ukraine. Legal support for cooperation with them is implemented at two levels: international (through international treaties, agreements and membership in relevant organizations) and national (through legislative consolidation and adaptation of norms to the Ukrainian legal space). These processes require detailed scientific analysis and development of practical recommendations to increase their effectiveness. The presented publication is dedicated to the search for relevant ways to solve the problems of international legal support for the development of Ukraine's cooperation with regional economic organizations.
Summary of the main results of the study. In the course of the study, the author analyzed the international legal foundations of the functioning of regional financial organizations. Regional financial organizations (RFOs) are created on the basis of multilateral international agreements that are binding on the participating states. They are endowed with the status of international organizations. The most significant RFOs cooperating with Ukraine include: the European Bank for Reconstruction and Development (EBRD), the European Investment Bank (EIB), the Black Sea Bank for Trade and Development (BSDT). Ukraine's cooperation with the RFO operates on the basis of: multilateral founding treaties, bilateral agreements (for example, the Framework Agreement with the EIB), national legislation (the Law of Ukraine "On International Treaties of Ukraine"), etc.
The created legal conditions provide for: compliance with the principles of the rule of law, transparency, and the fight against corruption; granting RFOs immunities and privileges; guarantees of the proper use of financial resources. We have analyzed the main problematic issues and gaps in the international legal support of Ukraine's cooperation with the RFOs, identified the main problems and possible ways to further improve the legal support of such cooperation.
The author includes the following problematic aspects: bureaucratic barriers and low efficiency of the use of funds; insufficient harmonization of national legislation with international standards; difficulty in ensuring transparency and anti-corruption control. Among the promising areas of work to improve Ukraine's cooperation with the RFOs, the author identifies the following: intensification of cooperation within the framework of the post-war reconstruction program ("Rebuild Ukraine"); involvement of the RFOs in "green" and digital projects; creation of a single coordination body in Ukraine for interaction with international financial institutions.
Conclusion. Regional financial organizations are a number of international legal entities that form a modern system of economic governance. For Ukraine, cooperation with the EBRD, EIB and BSEC is of strategic importance, providing financial support, reconstruction and integration into the European economic space. The international legal support of this cooperation is based on founding treaties, bilateral agreements and national legal acts. At the same time, the effectiveness of interaction depends on internal reforms, determination of legal quality and the fight against corruption. In the future, Ukraine should strengthen its legal status in relations with the Russian Federation, ensure the effective use of international resources, and expand the scope of cooperation for successful post-war reconstruction and integration with the EU.
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