EU’s new support worth $505 mn for Ukraine

Brussels, April 30

To facilitate the stablisation and development of Ukraine, the European Commission Tuesday adopted a special support package worth 365 million euros ($505 million).

“The EU is not only closely watching events in Ukraine and expressing its readiness to support it, but is also delivering in deeds,” Xinhua quoted Commissioner for European Neighbourhood Policy Stefan Fule as saying in a statement.

“With today’s assistance package we are encouraging and supporting the Ukrainian authorities to continue with reforms and in the process of inclusive national development,” Fule added.

The programme is conditional, subject to progress in reforms in the following areas: the fight against corruption, public administration, constitutional reform, electoral legislation and justice reform.

First disbursements are expected to take place after the signature of the Financing Agreement by the European Commission and the Ukrainian government.

The special measures for Ukraine are part of the support package announced by European Commission President Jose Manuel Barroso March 5.

The package includes two actions, namely the 355-million-euros worth budget support intended to support Ukraine in addressing short-term economic problems and preparing for in-depth reform, and an additional 10-million-euro programme designed to support Ukraine in enhancing the role of civil society. (1 euro = $1.38). 

(IANS)