Olena Voloshyna, Head of the IFC Operations in Ukraine, noted that at the moment Ukraine has developed its own culture of corporate governance at the 3rd International Corporate Directors Forum.

“It cannot be rejected, that we already have experts with different expertise and from very different markets. We have organizations that very successfully “move” corporate governance. We have a National Registry of Corporate Directors and members of this Register are already invited to the Boards”.

Mrs Voloshyna separately emphasized that the private sector had already moved from formal Boards, the task of which was simply to create a beautiful picture, to real ones, which reflect their purpose. And the creation of real Boards is often initiated not by donors, not by regulators, but by the owner himself.

In the public sector, according to Olena Voloshyna, everything is much more complicated. Сorporate governance, the establishment of normal boards became the mechanism because of which the public sector is being reformed. “This is a long process, the reforming process requires a lot of time, but it’s nice to see the positive changes that have already taken place.“