The first batch of EU macro-financial assistance within the framework of the new program for Ukraine will be provided immediately after the ratification by the European Parliament and national parliaments, as expected, before the summer vacations.
“On the part of the EU, we are preparing a macro-financial assistance program. The first batch – worth 1 billion euros – should start working already in summer, it is pending the approval by the European Parliament and national parliaments,” Executive Vice-President of the European Commission Valdis Dombrovskis told journalists on the sidelines of the Ukraine Recovery Conference in Lugano.
According to him, the program provides for the allocation of 9 billion euros in total.
Dombrovskis noted that, according to IMF estimates, Ukraine’s short-term deficit this year would reach $39 billion.
Responding to Ukrinform’s request to comment on the effect of the EC’s measures to suspend import duties on Ukrainian goods, Dombrovskis expressed his belief in their effectiveness.
“On the European side, we have given Ukraine the possibility of duty-free and quota-free access to the European market, and we see a positive effect for Ukrainian exports to the EU from the very first days of the introduction of these measures,” he said.
Moreover, the politician added, the solidarity lanes were provided for the promotion of Ukrainian exports, especially grain exports amid the blockade of Ukrainian ports.
“And we see that it helps the Ukrainian economy,” Dombrovskis emphasized.
He noted that commercial purchases of Ukrainian electricity would also be increased soon.
“So, we not only provide financial support but also look for ways to support the Ukrainian economy and Ukrainian companies,” he said. (Ukrinform/Business World Magazine)
