European Commission's package of support to Ukraine



Estimated read time: 3-4 minutes

This archived news story is available only for your personal, non-commercial use. Information in the story may be outdated or superseded by additional information. Reading or replaying the story in its archived form does not constitute a republication of the story.

[STK]

[IN]

[SU] FOR

TO FOREIGN, AND NATIONAL EDITORS:

European Commission's package of support to Ukraine

WASHINGTON, March 5, 2014 /PRNewswire-USNewswire/ -- 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 in Brussels on

Thursday March 6.

Jose Manuel Barroso, the European Commission President, said that "the

events of the last days have shocked us all and reminded us that

principles that we cherish, like peace, cannot be taken for granted.

It also reminds us how the outdated logic of the balance of powers is

dangerous and wrong and we need to replace it with a logic of

cooperation and dialogue, in full respect of international law" and

added that in parallel to handling the situation in Crimea through

political dialogue in the framework of the Ukrainian constitution,

"the international community should mobilise to help Ukraine stabilise

its economic and financial situation, which will in turn also

contribute to political and social peace."

President Barroso stressed that "the situation in Ukraine is a test of

our capability and resolve to stabilize our neighborhood and to

provide new opportunities for many, not just a few. We need to be up

to this challenge. I believe we are going to be up to this very

important challenge for Ukraine and for Europe as a whole."

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.

More Information:

Remarks by President Barroso on Ukraine

European Commission's support to Ukraine:

-- Press release on a package of support identifying a number of

concrete measures to assist economically and financially Ukraine

-- MEMO setting out the main concrete measures that the Commission is

proposing for the short and medium term to help stabilize the economic

and financial situation in Ukraine, assist with the transition,

encourage political and economic reforms and support inclusive

development for the benefit of all Ukrainians

www.EUintheUS.org & @EUintheUS

SOURCE Delegation of the European Union to the United States

-0- 03/05/2014

/CONTACT: Silvia Kofler, (202) 862 9523, or Kasper Zeuthen, (202) 862 9530

/Web Site: http://www.eurunion.org

CO: Delegation of the European Union to the United States

ST: District of Columbia Europe Ukraine

SU: FOR

PRN

-- DC77307 --

0000 03/05/2014 14:56:00 EDT http://www.prnewswire.com

Copyright © The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

The Associated Press

    SIGN UP FOR THE KSL.COM NEWSLETTER

    Catch up on the top news and features from KSL.com, sent weekly.
    By subscribing, you acknowledge and agree to KSL.com's Terms of Use and Privacy Policy.

    KSL Weather Forecast