On Fabruary, 10, 2010, the Twinning project official opening "Strengthening NBU potential through the approximation to EU standards of central banking" was led.

The project aims  to provide the National Bank of Ukraine with the opportunity to obtain expertise and information on standards and best practices applied by German and Polish central banks within the European System of the Central Banks (ESBC). The project partners are the Deutsche Bundesbank in consortium with the National Bank of Poland.

The purpose of the Project : to increase the capacity of NBU as the central bank of Ukraine.

Project aims:

• introduction of new operational planning systems and communications
• an effective monetary policy in conformity with EU standards
• modify processes in response to currency policy and reserve management in accordance with the EU positions and the current problems in global financial markets
• improving the methodology and process collection of money-and-credit statistics in accordance with European standards and regulations
• to initiate the procedures for the oversight of payment and estimation systems to ensure their stability and reliability
• the approximation of Ukrainian legislation to the norms and standards of banking activities of the EU.

The main activities of the project will focus on crucial aspects of central banking and aim at strengthening the institutional capacity of the National Bank of Ukraine. The implementation of project activities will last of 18 months.

First Vice-Governor of the National Bank of Ukraine Anatoly Shapovalov, the Head of Delegation of the European Union Manuel Pinto Teixeira, the Deputy Head of Main Department of Civil Service/ Director of  Twinning Administrative Office Andriy Vyshnevskyy, the Coordination Bureau for European and Euro- Atlantic Integration of the Secretariat of the Cabinet of Ministers of Ukraine Vadym Triukhan delivered with an opening speech during the action.

Andriyy Vyshnevskyy in his speech told about the necessity and importance of the Twinning instrument for state reforming, marked on experience value of the Germany and Poland  regulation in banking sector, which will be useful for National Bank of Ukraine. And told about main achievements of the Twinning implementation in Ukraine, in particular creating legal frameworks, network of Twinning contacts in authorities, introducing the annual programming of Twinning projects.

Germany Project Leader Martin Pontzen, Poland Project Leader Mariush Stankowski, Resident Twinning Advisor Artur Radomski also took part in the Project opening.