The Law is aimed at "provision of citizens´ constitutional rights and economic security of the State, minimization of possible losses in economy and financial system of Ukraine inflicted by the financial crisis that spread over the majority of industrially developed countries".
Thus, in order to secure macroeconomic stability in Ukraine, the Bill envisages foundation of a stabilization fund at the expense of extraordinary revenues from the State property privatization in 2008, total revenues from privatization in 2009, and special-purpose allocation of gilt-edged securities. Pursuant to the Law, these funds will be used for the following purposes: issue of credits (loans) for repayment, refinancing and (or) servicing of credits (loans) received by the national banking institutions and economic entities from foreign creditors before 15 September 2008; crediting or co-financing of infrastructure, investment and innovational projects of nationwide significance for the period up to 10 years; issue of credits for completion of housing construction which is performed with attraction of mortgage credits and refinancing on the part of banks and property developers; development of domestic demand on goods produced by Ukrainian manufacturers for export, etc.
The Bill envisages a number of measures to be taken in order to enhance financial and budgetary discipline, protection of bank depositors´ rights and improvement of the balance of payments.
A relevant Bill (Reg. No.3309-4) was registered at The Verkhovna Rada of Ukraine.