Riga, 08/01/2015 (Agence Europe) - On 8 January, the President of the European Commission, Jean-Claude Juncker, promised granting further assistance to Ukraine worth €1.8 billion.
This new macro-financial assistance will take the shape of medium-term loans and will have to be formally approved by the Council of the EU and European Parliament before being released in 2015 and the beginning of 2016. With this new support, the EU intends to provide economic and financial aid to Ukraine, which has had to confront major difficulties, particularly its weak balance of payments and budgetary situation. In a press release, the Commission explained, “The intention is also to help the new reform-orientated government strengthen the country and deal with economic and political challenges”. The macro-financial assistance proposed today will be linked to certain reform actions pursued by the Ukraine in the specific IMF programme put in place in the country.
During a press conference with the Latvian Prime Minister, Laimdota Straujuma, Juncker stressed that this assistance proved that, “Our actions speak louder than our words. The European Union has provided unprecedented financial support and today's proposal proves that we are ready to continue providing that support”. He pointed out that Ukraine needed European solidarity and that “solidarity goes hand in hand with commitment to reform, which is urgently needed in Ukraine. We want to help the Ukrainian government to put its reform agenda into practice”. Straujuma welcomed the speed with which the Commission had, “successfully launched this effort”.
The EU High Representative for Foreign Affairs, Federica Mogherini, also pointed out that financial aid was linked to Ukraine's determination to apply reforms.
In 2014, the Commission disbursed €1.36 billion in support of Ukraine under two existing macro-financial programmes, which received a total of €1.61 billion. (see EUROPE 11210). (CG)