Dombrovskis: The first round of EU funding to Ukraine will arrive this summer

•  European Parliament and national parliaments will ratify the new programme for Ukraine
• The first batch, totaling 1 billion euros, is awaiting approval from the national and European parliaments 
• He claims that the programme calls for a total allocation of 9 billion euros.

Before the summer break, as anticipated, the European Parliament and national parliaments will ratify the new programme for Ukraine, at which point the first round of EU macro-financial aid to Ukraine will be made available.

“We are developing a macrofinancial aid programme on behalf of the EU. The first batch, totaling 1 billion euros, is awaiting approval from the national and European parliaments but should begin operating this summer “At the Ukraine Recovery Conference in Lugano, Executive Vice-President of the European Commission Valdis Dombrovskis spoke with reporters. He claims that the programme calls for a total allocation of 9 billion euros.

Dombrovskis mentioned that the IMF predicted that Ukraine’s short-term deficit would be $39 billion this year.

Dombrovskis stated his confidence in the success of the EC’s actions to suspend import taxes on Ukrainian goods in response to Ukrinform’s request for comment on the matter.

“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.

In addition, the legislator said, solidarity lanes are set up to support Ukrainian exports, particularly grain shipments, in the midst of the embargo of Ukrainian ports. Dombrovskis continued, “And we see that it supports the Ukrainian economy.

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.

The lawmaker listed two agenda items for the summit in Lugano: Ukraine’s immediate financial needs and long-term rehabilitation. In his view, it is critical to establish the working principles and methods of financing, as well as to coordinate the perspectives of diverse donors. “There are numerous inquiries. We should start preparing now rather than waiting till the war is over; we should be ready, and until then, we shouldn’t disregard the current support that keeps Ukraine afloat “said Dombrovskis.

According to reports, on July 4-5, the international Ukraine Recovery Conference will take place in the Swiss city of Lugano with the participation of Ukrainian and foreign politicians, as well as executives from the EU and other international organisations and representatives from the world of finance.

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