At that time, the reform of public procurement in Ukraine proved its effectiveness, so to develop a new project that would help to sell state and municipal property transparently, the experience of Prozorro was applied.

The law established a 5-year term for doing this, but the sales model existing at that time did not allow for efficient and transparent management of the liquidated assets of banks.

A team of specialists from different divisions of the Fund and the project office hosted by Transparency International Ukraine, the reform's core partner, received a political mandate to carry out the institutional transformation.

On June 24, 2016, the stakeholders concluded a Memorandum of Cooperation in building a transparent and efficient system for the sale of assets of insolvent and liquidated banks in Ukraine.

[11] The system is based on two key principles: the "golden triangle" of interaction between government, business, and civil society.

The project aims to increase the transparency of the sale process and the efficiency of state and municipal property management using modern IT solutions.

It also contributes to the development of Ukraine by introducing market mechanisms and digital technologies in state property management.

The first level — is independent electronic marketplaces (brokers), and the second — is a central database administered by Prozorro.Sale JSC, where auctions are held.

Platforms advise both organizers and potential buyers, help them to register in the system, draw up a lot correctly and take part in the auction.

[14] Through the system of electronic auctions, citizens and businesses gain access to the acquisition of unique assets owned by the state.

[24] In December 2022, the government approved a decree that impeded a pilot project to launch online auctions to sell special permits for commercial fishing.

The full list is available on the prozorro.sale website[25] The online "Prozorro.Sale" auctions are conducted according to two models: English — the so-called classic - and Dutch.

In 2017, together with FGVFL and the Kyiv School of Economics (KSE), a hybrid Dutch auction to sell non-performing loans of bankrupt banks was designed and launched.