Ukrainian Rada passes legislation on Economic Security Bureau reform to continue receiving foreign financing

MOSCOW. June 21 (Interfax) - The Ukrainian Verkhovna Rada on Thursday passed legislation on the reset of the Economic Security Bureau, which was among the conditions for continuing to receive foreign financing, Ukrainian media have reported with reference to Daniil Getmantsev, chairman of the Rada's Financial, Tax, and Customs Policy Committee.

"The text has been agreed upon with partners. Including an independent selection of a new Economic Security Bureau chief, re-qualification, and personnel selection. Involving foreign experts and Ukrainian businesses," media quoted Yaroslav Zheleznyak, first deputy chief of the committee, as saying.

The legislation stipulates that a new Economic Security Bureau chief shall be elected by a board comprising six members, half of them foreign experts with full voting rights, Zheleznyak said. The re-qualification procedure shall be conducted by a commission comprising six members appointed by a newly-elected chief of the bureau and another six nominated by the Ukrainian business community and appointed by international partners. A personnel commission established in the same way will work for the next three years.

The adoption of the law on the Economic Security Bureau is among the conditions Ukraine has to comply with to receive financing amounting in aggregate to $3 billion under international programs, including from the International Monetary Fund, Zheleznyak said.