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European Commission

Press release

Brussels, 5 March 2014

European Commission's support to Ukraine

The European Commission agreed today a package of support identifying a number of concrete measures to assist economically and financially Ukraine. These measures should be seen as the Commission's contribution to a European and international effort to support Ukraine's economic and political reforms, and will be presented to the EU Heads of State and Government ahead of their extraordinary meeting on Thursday 6 March.

"The most immediate priority for the EU is to contribute to a peaceful solution to the current crisis, in full respect of international law", said President Barroso. "In parallel, the international community should mobilise to help Ukraine stabilise its economic and financial situation. The European Commission is proposing today a package designed to assist a committed, inclusive and reforms oriented Government in rebuilding a stable and prosperous future for Ukraine. What we propose could bring overall support of at least €11 billion over the next couple of years from the EU budget and EU-based international financial institutions."

The package of support to Ukraine sets out the main concrete measures that the Commission is proposing for the short and medium term to help stabilise the economic and financial situation in Ukraine, assist with the transition and encourage political and economic reform.

This engagement constitutes both a response to help stabilise the country as well as to support the reform programme and further enhance ownership of the Ukrainian authorities. While some of these measures can be carried out quickly, others will require further planning and preparation. For many of them, the urgent and active support of the Council and European Parliament are necessary.

Underpinning this approach is the ambition to help Ukraine fulfil the aspirations which have been clearly demonstrated by citizens and civil society in recent weeks in the unprecedented events in Kiev and throughout the country.

Key elements of the package agreed today:

    • €3 billion from the EU budget in the coming years, €1.6 billion in macro financial assistance loans (MFA) and an assistance package of grants of €1.4 billion;

    • Up to €8 billion from the European Investment Bank and the European Bank for Reconstruction and Development;

    • Potential €3.5 billion leveraged through the Neighbourhood Investment Facility;

    • Setting up of a donor coordination platform;

    • Provisional application of the Deep and Comprehensive Free Trade Area when Association Agreement is signed and, if need be, by autonomous frontloading of trade measures;

    • Organisation of a High Level Investment Forum/Task Force;

    • Modernisation of the Ukraine Gas Transit System and work on reverse flows, notably via Slovakia;

    • Acceleration of Visa Liberalisation Action Plan within the established framework; Offer of a Mobility Partnership;

    • Technical assistance on a number of areas from constitutional to judicial reform and preparation of elections.

Indicative amounts / ranges:

Source

Indicative amounts / ranges (in € million)

I. EUROPEAN COMMISSION (2014-2020)

I.1 Overall development assistance (grants)

1,565

Bilateral envelope, where:

- Annual Action Programme (AAP) for 2014

140-200

- AAPs (average) - for 2015-2020

780

- Umbrella programme ("more for more") for 2015-2020

240-300

Neighbourhood Investment Facility

200-250

Instrument contributing to Stability and Peace (IcSP)

20

CFSP

15

I.2 Macro financial assistance (loans)

1,610

I.2 EUROPEAN FINANCIAL INSTITUTIONS

EIB

up to 3,000

EBRD

5,000

GRAND TOTAL

11,175

For more info, see:

MEMO/14/159: European Commission's support to Ukraine

Contacts :

Pia Ahrenkilde Hansen (+32 2 295 30 70)

Alejandro Ulzurrun (+32 2 295 48 67)

Mark Gray (+32 2 298 86 44)

Natasja Bohez Rubiano (+32 2 296 64 70)

For the public: Europe Direct by phone 00 800 6 7 8 9 10 11 or by e­mail


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