"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 the 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, Ukrinform reports.
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 are 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 will 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.
Speaking about the conference in Lugano, the politician outlined two topics on agenda: Ukraine's short-term financial needs and long-term reconstruction. According to him, it is important to coordinate the positions of various donors, to determine the principles of work, and ways of financing. "There are many questions. Preparations should start now, we don’t have to wait until the war ends, we should be ready, and until then we should not forget about current support because it allows Ukraine to stay afloat," Dombrovskis said.
As reported, the international Ukraine Recovery Conference is held in the Swiss city of Lugano on July 4-5 with the participation of Ukrainian and international politicians, leaders of the EU and international organizations, international financial bodies, etc.
Let’s get started read our news at facebook messenger > > > Click here for subscribe