The European Bank for Reconstruction and Development (EBRD) under a request of the National Commission for Securities and the Stock Market of Ukraine and the Agricultural Policy and Food Ministry of Ukraine has announced a tender to select an advisor for the development of the warehouse receipt market in the country.

The commission said in a press release that the selected advisor will provide methodological support in analysis of the domestic warehouse receipt market and designing recommendations how to improve the tool.

"The warehouse receipt system is an important element of the effective functioning of commodity exchange markets, as the important requirement to the operation of commodity market is reached using these tools: ensuring the guarantee for payments and the guarantee for the delivery of goods," the commission said in the press release, citing its Head Tymur Khromaev.

The commission said that at present, the tool is used partially and only in the agricultural sector. It has large functional limits.

Bids for the participation in the EBRD tender can be submitted until January 26, 2018.