The European Union has given Ukraine unprecedented funding and now need to ensure optimal use of grants and loans. About it in interview to portal Eastbook said the European Commissioner for enlargement and neighborhood policy Johannes Hahn.
«We have pledged €12.8 billion macro-financial support for carrying out political and economic reforms. It’s all kinds of loans and grants, not to mention large amounts of funding offered by Ukraine, other donors and international organizations. In a sense, the «Marshall Plan» for Ukraine is already in force. Largely through the efforts of international partners, including the EU, the Ukrainian economy has largely stabilized,» – said Khan.
«The challenge is not so much to increase funding, how to ensure the optimum use of grants and loans,» he added.
According to him, Ukrainian authorities should focus on improving the business climate, judicial system and the fight against corruption.
«There is every reason to believe that Ukraine, with its potentially huge market will become attractive for investors as soon as they are confident that their property and contracts are secure. For its part, the Ukrainian authorities should be able to protect the market from raiding and theft. Instead of looking for new sources of public funds (which, incidentally, is not always easy to master), priority should be given to attract domestic and foreign private investment, which will help to accelerate economic growth and create jobs,» said the Commissioner.
At the end of March the European people’s party Congress, which was held on Malta, adopted a resolution on developing a long-term plan of assistance to Ukraine («Marshall Plan for Ukraine»). In the EPP resolution urged member States of the EU «through bilateral and multilateral programmes to provide Ukraine with military, humanitarian and economic assistance». The party also proposed to create a «broad investment package», aimed at accelerating the economic recovery of Ukraine.
One of the authors of the document, former Prime Minister of Lithuania and current member of the Seimas Andrius Kubilius stated that «the Marshall Plan for Ukraine» will be presented at the summit of «Eastern partnership» in November. According to him, the document praised the State Department and the U.S. Congress. Kubilius believes that the implementation of long-term «Marshall Plan» will allow «to pour into the real economy of Ukraine up to €5 billion a year.»
In July the President of Ukraine Petro Poroshenko said that Ukraine and the EU leaders discussed the possibility of holding the 2018 investment conference «Marshall Plan for Ukraine». 25 August 2017 the Ukrainian-Lithuanian project of assistance to Ukraine was presented in the European institutions.
The Marshall plan – the program of aid to Europe after world war II. Was developed in 1947, the American Secretary of state George C. Marshall and came into effect in April 1948. The stated US goal of implementing the plan was the restoration of war-ravaged economies of Europe, removing trade barriers, modernising industry. The program involved 17 European countries.
EU Commissioner Hahn: In some sense, the «Marshall Plan» for Ukraine is already in force 17.10.2017