The audit materials reveal ongoing failures in the activities of the Municipal Enterprise "Kyiv Investment Agency"
For an extended period—ranging from three to 11 years—there has been incomplete execution of pre-investment work for a significant number of investment projects (over one hundred). Meanwhile, this list was previously approved by the city authorities, and all these facilities require investment attraction.
This is stated in the annual report from the Department of Internal Financial Control and Audit of the Kyiv City State Administration.
Thus, there is a risk of the investment projects becoming outdated. This will lead to the investment agency being unable to receive monetary compensation for its expenses in preparing these projects. The amount is substantial: by the end of 2023, it totaled 13 million 500 thousand hryvnias.
Moreover, auditors note that the agency lacks clear and approved criteria, as well as methodologies for calculating the amount of monetary contribution that the winner of the investment competition for creating social and engineering-transport infrastructure in Kyiv must pay.
It should be noted: the agency's administration has long proclaimed ambitious goals, such as aiming to "ensure the growth of the city's investment potential, the implementation of socially significant infrastructure and other projects through establishing effective cooperation between the public and private sectors, as well as with investment and financial institutions." However, as we see, all of this remains on paper.
By the way, for the first half of 2024, the Kyiv Investment Agency achieved only 50 percent of its income plan. The actual income amounted to three million hryvnias. For years, the city community has not witnessed the realization of "socially significant infrastructure and other projects."
The Commission of the Kyiv City State Administration for analyzing the financial and economic activities of municipal enterprises reviewed the agency's management report for the first half of 2024 last year. Mykola Povoroznyk, the first deputy head of the Kyiv City State Administration, suggested not to evaluate the head of the enterprise but to do so based on the results of 2024. However, even until now, the community does not know what evaluation has been given. The enterprise is led by Bohdan Chornyi, a member of the Kyiv City Council (UDAR faction).