Arab Today, arab today european commission offering €11bn to ukraine
Last Updated : GMT 04:40:04
Arab Today, arab today
Arab Today, arab today

European Commission: Offering €11bn to Ukraine

Arab Today, arab today

Arab Today, arab today European Commission: Offering €11bn to Ukraine

Brussels - AFP

European Commission president Jose Manuel Barroso announced Wednesday a massive aid package to Ukraine of "at least 11 billion euros" as the West stepped up plans to help the new government. "It is a package designed to assist a committed, inclusive and reforms-oriented Ukrainian government," said Barroso on the eve of an EU crisis summit on events in Ukraine. "The package combined could bring an overall support of at least 11 billion euros ($15 billion) over the next couple of years," the head of the EU executive told a news conference. He said he would discuss details of the assistance on Thursday with new Prime Minister Arseniy Yatsenyuk, who is to attend the emergency EU summit called to mull a joint response to the crisis in Crimea. Barroso called on the EU's 28 member states for "further efforts" of assistance, along with those of other financial institutions such as the IMF, the World Bank and "all partners that want to contribute. The United States this week offered a $1.0-billion loan. Barroso said the EU package would include 1.6 billion euros in loans under macro-financial assistance, 1.4 billion euros in grants, of which 600 million euros can be disbursed in the next two years, and 3 billion euros from the European Investment Bank from 2014-2016. The Commission said another 250 million euros would be leveraged to obtain 3.5 billion euros of loans from bankable investment projects. And the European Bank for Reconstruction and Development (EBRD) is expected to invest 5 billion euros in Ukraine's economy through 2020. The offer is far above the 610 million euros originally offered to Ukraine under a political association agreement -- the deal spurned last year by ousted president Viktor Yanukovych that triggered three months of protests. Barroso said the EU remained ready to sign the accord, which would bring "millions of valuable savings" on import duties. It was also seeking how to help Ukraine reduce its huge energy bill. Barroso said the European Commission would also create a special donor coordination mechanism which the European Union is ready to host. The 5 billion euro figure from the EBRD represents an increase from the previous investment plans, which had been scaled back over corruption concerns in Ukraine, and the bank said it could invest even more if economic circumstances permit. But it cautioned that it was "essential for investor confidence that Ukraine agree a macro-economic stabilisation programme with the International Monetary Fund and that it tackle endemic corruption." The EBRD has been working over the last year on an anti-corruption initiative with Ukraine. "If we see an IMF package, if we see signs of an anti-corruption initiative, and if the economic conditions are right, then we could put in more than 5.0 billion euros," EBRD communications director of communications Jonathan Charles told AFP Charles also said: "There is no change in our investment activities in Russia". The EBRD was formed in 1991 to help former Soviet bloc countries switch to a market economy, and in 2012 expanded its reach to emerging Arab democracies.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today european commission offering €11bn to ukraine Arab Today, arab today european commission offering €11bn to ukraine

 



Arab Today, arab today
Arab Today, arab today Mohamed Bahari prepares new collection for spring 2017

GMT 06:15 2017 Monday ,27 February

Mohamed Bahari prepares new collection for spring 2017
Arab Today, arab today 17.4 million tourists visit UAE in 2016

GMT 00:47 2017 Monday ,27 February

17.4 million tourists visit UAE in 2016
Arab Today, arab today Sheds light on major steps in 12-year career

GMT 06:07 2017 Monday ,27 February

Sheds light on major steps in 12-year career
Arab Today, arab today UN envoy sets out framework

GMT 07:25 2017 Monday ,27 February

UN envoy sets out framework
Arab Today, arab today Ayat Abaza says state TV presented major stars

GMT 03:52 2017 Sunday ,26 February

Ayat Abaza says state TV presented major stars

GMT 06:01 2017 Sunday ,26 February

BRIC funds see inflows amid emerging equity boom

GMT 05:43 2017 Sunday ,26 February

Al-Gergawi quits Dubai Holding to focus on govt role

GMT 05:14 2017 Sunday ,26 February

Oil prices to average $50-$70 through 2022

GMT 14:44 2017 Saturday ,25 February

China overtakes US as Germany’s top trade partner

GMT 05:53 2017 Saturday ,25 February

Global sovereign debt to hit new all-time high

GMT 05:17 2017 Saturday ,25 February

Oil world cautious on Trump’s next move

GMT 09:59 2017 Friday ,24 February

Baidu revenue slips anew amid ad clampdown
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Penguins in the age of dinos

GMT 11:44 2017 Saturday ,25 February

Penguins in the age of dinos
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today 'Constructive' Vauxhall talk with union

GMT 08:54 2017 Saturday ,25 February

'Constructive' Vauxhall talk with union
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Reasons for the delay 'On the Stairs of Servants'

GMT 06:42 2017 Saturday ,25 February

Reasons for the delay 'On the Stairs of Servants'
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage

GMT 07:23 2017 Friday ,24 February

Ola Ghanem hopes to work with M.Ramadan

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years

GMT 18:23 2017 Friday ,24 February

Fadi explains secrets of  Nancy Ajram's newlook

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"

GMT 10:51 2017 Saturday ,25 February

Pigs with edited genes show resistance

GMT 14:04 2017 Friday ,24 February

Messi visit will contribute in tourism

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 01:04 2017 Tuesday ,28 February

Nokia 3310 is back — and so is 'Snake'

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives heritage in jewelries
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday