In 2025, Ukraine effectively put an end to its chaotic approach to public investments.

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According to the Ministry of Finance, the state has completed a key stage of public investment management reform and introduced unified rules for planning, selecting and financing investment projects — from the national to the local level. This means not only for ministries, but also for regions and communities.

In short, investments now have logic, priorities and a common framework, rather than a ‘first come, first served’ approach.

In 2025, the Government approved a comprehensive methodological framework for public investment management. It covers the entire project life cycle:

• medium-term planning and prioritisation;
• preparation and evaluation of projects;
• formation of sectoral portfolios and a Single Project Portfolio of Public Investments (SPP);
• implementation and monitoring.

According to Deputy Minister of Finance Dmytro Samonenko, even in the context of the full-scale war, the reform has moved from theory to practice. The State Budget for 2026 has already been formed according to the new rules, with the largest amount of funds allocated to energy, which is critical for the economy and people’s basic needs.

As of the end of 2025:

• 25 out of 72 planned reform measures have been implemented (35%);
• 28 are in progress (39%);
• 19 have not yet reached their implementation deadline (26%).

Key decisions are as follows:

• the methodology for public investment management at the national, regional and local levels has been adopted;
• amendments to the Budget Code on medium-term planning have been made;
• a plan for implementing the Reform Roadmap for 2024–2028 has been approved;
• an institutional framework for the reform has been created, including a Strategic Investment Council.

In 2025, the Medium-Term Plan for Priority Public Investments for 2026–2028 was approved. It served as the basis for forming the State Single Project Pipeline and the 2026 Budget in terms of investments.

In September 2025, projects were selected for the first time under the new rules and the State Single Project Pipeline was formed. It included 195 projects and programmes with a total value of UAH 12.6 trillion in areas directly related to community life:

• energy,
• transport,
• municipal infrastructure,
• housing,
• education and healthcare,
• social sector,
• environment,
• digitalisation.

The 2026 State Budget allocates UAH 116.9 billion to finance SSPP projects. A significant portion of these funds consists of preferential loans and grants from international partners.

In 2025, particular emphasis was placed on the capacity of local authorities. In cooperation with UNICEF, training was provided to 240 financiers from communities and regional state administrations on medium-term budget planning and public investment management.

It is only the beginning.

In 2026, the reform will enter the full-scale implementation phase. The focus will be on:

• practical application of the new methodology by communities and regions;
• finalisation of the regulatory framework, in particular regarding long-term budgetary commitments;
• strengthening the monitoring of project implementation and risk management;
• development of institutional capacity at the local level;
• creation of a single digital system for public investment management.

The Ministry of Finance initiated the public investment management reform in 2024, and its implementation is scheduled to be completed by 2028. The goal is simple yet ambitious: transparent rules, predictable funding, and realistic projects that work towards the restoration and development of communities.