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EC approves the Recovery Plan for Ukraine and offers macro macro-financial assistance in the amount of 9 billion euros

The EC approved the Recovery Plan and offered 9 billion euros. Photo: Ibrahim Boran/Unsplash

The EC approved the Recovery Plan and offered 9 billion euros. Photo: Ibrahim Boran/Unsplash

The European Commission approved the Recovery Plan for Ukraine and offered to provide Ukraine with new macro-financial assistance in the amount of up to 9 billion euros. Prime Minister of Ukraine Denys Shmyhal announced this on his Telegram channel.

Quote"The main thing in that respect is not money. The main thing is an official message that the EU will become a key player in the future recovery of Ukraine. Together we will not only rebuild what the Russians destroyed, but we will build a New Ukraine. According to the new European rules," the Prime Minister stresses.

He notes that the European Union will be guided by the plan that is being drafted by our National Council for Post-War Recovery. Ukraine will be the "owner" of the process, but European partners will be involved for maximum transparency and efficiency.

The joint plan, according to Shmyhal, will be based on 4 pillars:

  • rebuilding of the entire infrastructure according to the latest standards and European policies;
  • modernization of the Ukrainian state and institutions;
  • maximum integration of Ukraine with the EU in all spheres and areas;
  • economic transformation, including new opportunities for Ukrainian business.

European Commission President Ursula von der Leyen said that this should be a forward-looking plan that would fully reflect the needs determined by Ukraine.

Quote"The plan will address key reforms in areas such as the combat against corruption, administrative capacity, the rule of law, and the independence of the judiciary. And this must be firmly enshrined in the green and digital transition and fundamental European values," she said.

President Volodymyr Zelenskyy thanked the EU for its support:

Quote"I am grateful for the support package for Ukraine announced today by Ursula von der Leyen. It includes a new €9 billion macro-financial assistance program and the Ukraine Recovery Platform. Such support will help Ukraine win the war, cope with the consequences of Russian aggression and accelerate the progress towards EU membership," he wrote on his Twitter page.

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