Today, on May 24, for the first time since the establishment of the Asset Recovery and Management Agency, the Verkhovna Rada Committee on Anti-Corruption Policy held an offsite meeting at the National Agency.

The National Agency's staff, headed by the Head of ARMA Olena Duma, presented the results of its activities to the members of the Committee and spoke about the Agency's reboot over the past 11 months.

In general, during the meeting, the participants discussed the efficiency of the Agency's work with the assets transferred to its management and developed by ARMA a unique procedure for competitive selection of asset managers using the electronic procurement system of the state enterprise ‘Prozorro’.

The focus of the people's deputies was on the effectiveness of the management of seized property currently held by ARMA. They also drew attention to the importance of cooperation between the Committee and ARMA to reduce corruption risks in the management of such property.

In addition, ARMA briefed members of parliament on the agency's effectiveness in managing funds. Thus, in less than 5 months of 2024, the National Agency ensured:

• Revenues to the state budget from the management of seized assets - UAH 184 million, including more than UAH 15 million paid to the budget as customs duties from the sale of seized assets, for the first time in the entire period of ARMA's activity.
• Sale of seized assets on Prozorro.Sale under the new procedure for UAH 87.7 million.
• Purchase of Military Bonds for UAH 4.1 billion. Income from them amounted to UAH 507.5 million.

The meeting also discussed the legislative initiatives that need to be implemented to improve the efficiency of the agency. The new legislative instruments should give ARMA greater powers in terms of asset tracing and management, which should significantly increase revenues to the state budget of Ukraine.

Further issues related to the organisation of the work of the National Agency and the relevant VRU Committee will be discussed in a working order.