IN THE SPOTLIGHT
EU prepares assistance measures for Ukraine, Georgia and Moldova association
In the context of growing regional pressures on Ukraine, Georgia and Moldova, and delivering on its pledge to coordinate international assistance to Ukraine, the European Commission agreed with International Financial Institutions (IFIs) in the presence of EU Commissioner Štefan Füle this week in Brussels to spearhead enhanced assistance measures to the three countries.
According to a press release from the European Commission, the assistance measures will notably support Ukraine to implement the IMF-backed reform package agreed on 27 March; they will also support the implementation of Association Agreements, including Deep and Comprehensive Free Trade Areas, signed, or shortly to be signed between the EU and Ukraine, Georgia and Moldova. Priority investment projects for the three countries will be based on a mix of funds, subsidies and loans, from a range of different actors (referred to as 'blending').
Through the unprecedented international assistance package being prepared for Ukraine and measures to further assist Georgia and Moldova in near future, the EU and international partners step up their support to these countries' efforts to reform their economies and create the conditions for growth and employment in a competitive international market. The meeting is part of the follow up to the European Commission's support to Ukraine announced on 5 March for an amount of 11 billion euros, a press release said.
"The European Commission is preparing a large programme of 355 million euros (grant) to support Ukraine's transition through a State Building Contract", explained Commissioner Füle, EU Commissioner in charge of Enlargement and European Neighbourhood Policy.