EU to allocate 500 million of euro to Ukraine

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Posted by: Mazur Rodica

News / International

09 July 2019 / 14:48

EU to allocate 500 million of euro to Ukraine

Five agreements providing 126.9 million Euro (142.3 million U.S. dollars) aid to Ukraine were signed during the Ukraine-EU summit held in Kiev on Monday, information on the Ukrainian president's official website showed.

During the meeting of the Ukrainian president Volodymyr Zelensky, President of the European Council Donald Tusk and European Commission President Jean-Claude Juncker, a number of agreements on cooperation between Ukraine and the EU were signed, Xinhua agency reports.

According to the agreements, 40 million Euro (44.8 million U.S. dollars) of the provided financial aid will be allocated for decentralization reform, 44 million Euro (49.3 million U.S. dollars) for the key reform implementation and the provision of the free trade zone agreement, 22.9 million Euro (25.6 million U.S. dollars) for the anti-corruption initiative, 10 million Euro (11.2 million U.S. dollars) for the civil society and culture support and 10 million Euro (11.2 million U.S. dollars) for the Eastern Ukraine support program.

During the press conference held after the Ukrainian and EU officials meeting, Zelensky thanked the European partners for their willingness to provide Ukraine with the second tranche of the fourth macro-financial assistance program which amounts in 500 million Euro (560.6 million U.S. dollars).

Ukrainian president invited European officials to assess the implementation of the Ukraine-EU Association Agreement and expressed his commitment to further cooperation with the EU.

"We are committed to further sectoral integration of the markets of Ukraine and the EU in priority areas: energy, the digital market, justice and internal affairs, customs cooperation and trade facilitation," Zelensky said during the press conference.

The Ukraine-European Union Association Agreement came into force on 1 September 2017.

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