Combating corruption in Ukraine has become increasingly urgent because of the impact it is having on the willingness of companies to invest in the country. With setting up of Business Ombudsman Council, Ukraine has taken a major step forward towards the improvement of its investment climate.
Business Ombudsman Council is meant to be the first point of contact for companies seeking redress against unfair treatment. The new institution provides for greater transparency of business practices in Ukraine.
The BOC is funded through the Multi-donor Account for Ukraine set up at the European Bank for Reconstruction and Development (EBRD) in 2014. The donors of the Multi-donor Account for Ukraine include Denmark, Finland, France, Germany, Italy, Japan, the Netherlands, Poland, Sweden, Switzerland, the United Kingdom , the United States and European Union.
Algirdas Šemeta, former European Commissioner and Minister of Finance of Lithuania, has been the Business Ombudsman in Ukraine since December 22, 2014.
The Business Ombudsman Council includes the Business Ombudsman, two Deputies, and other staff that the Council may hire, as the need arises, in accordance with current regulations. Currently, the Council’s team consists of 35 people: distinguished experts with mostly western education and practical experience in law, strategic management, economics, auditing, and risk management.
The Business Ombudsman Institution is governed by the Constitution and the laws of Ukraine, acts of the President of Ukraine, acts of the Verkhovna Rada of Ukraine, consistent with the Constitution and the laws of Ukraine and the acts of the Cabinet of Ministers of Ukraine, other legislative acts, and the Memorandum of Understanding for the Ukrainian Anti-Corruption Initiative