“We are happy to announce that our company has joined the Ukrainian Network of Integrity and Compliance”, stressed Oleksiy Vadaturskyy. “Our company has been working in Ukraine for 25 years, developing its business honestly, transparently and within the law. Having a desire to invest loans of first-class western banks in Ukraine’s economy at the same level with transnational companies, having an individual license of the National Bank of Ukraine to invest abroad, we established our subsidiary in the Netherlands in 2004 and in 2 years – in Switzerland.  We are a successful company that enjoys the confidence of first-class European banks, foreign financial institutions and partners. NIBULON works with many leading international financial institutions, such as the EBRD, EIB, IFC, and leading western banks. All the years NIBULON has been adhering to the business principles of the best countries; it has been working openly and transparently in the grain market, adhering to the Ukrainian law. Over the years of its existence and fruitful operation the company has been making its contribution to fight corruption, illegal schemes and dishonest partners. Of course, a year or two ago, the situation in Ukraine was much worse, but today there are many problems for those who want to do business in Ukraine honestly. That is why we have decided to join the best companies that work in the network of integrity. We need to make great efforts together to make the Ukrainian market more civilized and transparent, and to make Ukraine progress, professing the best virtues of integrity”.
The Ukrainian Network of Integrity and Compliance is a new initiative for business that strives for transparent work. The initiative was launched by the Business Ombudsman Council, with the support of the European Bank for Reconstruction and Development (EBRD) and the Organization for Economic Cooperation and Development (OECD).
The goal of the network is to promote the idea of ethical and responsible business. Member companies committed themselves to supporting a good business reputation and constantly improving their integrity standards in accordance with the best international practices. The responsibility laid down for the activities of the companies will help to counteract corruption, weaken regulatory pressure, facilitate access to lending, and facilitate entry into international markets.
The network members will work together to assess the anti-corruption risks to implement compliance programs in their organizations, involve business representatives in discussing the principles of integrity, and increase interest in transparent business among market participants. The members of the network will regularly confirm their level of integrity.
“Corruption remains a serious obstacle to economic growth in Ukraine. Transparency International ranks Ukraine 131st out of 176 in the Corruption Perception Index, which is why this network should help bring together leaders in the business community who understand how important transparency is in doing business and who are prepared to offer a role model to other companies. We actively support the work of the network”, said Algirdas Šemeta.
At present, 46 Ukrainian and international companies signed integrity declarations. All applicants are recommended by the Business Ombudsman Council, EBRD, OECD, Embassies, international organizations and business associations. These companies will form rules and principles of the network.