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EU offers $15 billion in aid to Ukraine

March 07, 2014, 16:43 UTC+3 KIEV
Within the shortest period of time, Ukraine will receive macro-financial aid of $2 billion to carry out reforms and stabilise the economic situation
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© AP Photo/Geert Vanden Wijngaert

KIEV, March 07. /ITAR-TASS/. The European Union has approved a $15 billion package of economic and financial aid to Ukraine, parliament-appointed Prime Minister Arseniy Yatsenyuk told reporters on Friday.

“Within the shortest period of time, Ukraine will receive macro-financial aid of 1.6 billion euros or $2 billion,” he said. “This will make it possible for Ukraine to carry out reforms and stabilise the economic situation,” he added.

Alongside, the European Investment Bank and the European Bank for Reconstruction and Development (EBRD) were offering Ukraine $8 billion-worth of investment, Yatsenyuk said.

“We will be able to channel these means into new plants, economic modernisation, new jobs and making products more competitive,” he said.

“European countries unilaterally open the European market for Ukrainian products and producers,” he said. According to expert appraisal, alone in the first year following this decision, the Ukrainian economy would receive $400 million, Yatsenyuk added.

Growth in exports of grain, agricultural products and confectionery was forecast. “As for opening the Ukrainian market for European products, we will be holding additional consultations and decisions will be made after them to remove all speculation that it may negatively affect the Ukrainian economy,” he said.

“That is why the east may be calm. All that proceeds within the framework of bilateral co-operation between Ukraine and Russia may keep going,” he said, referring to eastern regions of the country backing closer ties with Russia.

“There have been and are no grounds for Russia’s putting up trade barriers to Ukrainian goods,” he said.

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