EU to give Ukraine additional EUR 87 mln in financial assistance

First Deputy Prime Minister of Ukraine, Minister of Economic Development and Trade Stepan Kubiv has signed four agreements with the European Union to receive financial assistance totaling EUR 86.9 million within the 21st EU-Ukraine Summit held in Kyiv on July 8, 2019.

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According to the agreement on financing under the Technical Cooperation Facility 2019, Ukraine will receive financial assistance worth EUR 44 million to continue the country's key reforms, in particular, to facilitate trade, promote economic development, as well as improve the investment climate and the legislation in the field of public procurement, the ministry's press service said on July 8.

Under another agreement, within the "EU Support for the East of Ukraine" program, the European Union will provide additional assistance worth EUR 10 million to restore the economy in Luhansk and Donetsk regions, as well as provide support for the development of Zaporizhia region. The total project cost is EUR 60 million.

Ukraine will also receive EUR 10 million in accordance with the Support for Civil Society and Culture agreement. The funds will be allocated for the development of Ukrainian cultural institutions, public involvement in reforming the country, and other projects.

An agreement was also signed on the financing of the Anti-Corruption Initiative – The Second Phase." Under the document, Ukraine will receive EUR 22.9 million to strengthen the independence and effectiveness of anti-corruption institutions, improve governance and transparency at the local level and, as a result, reduce corruption at the national and local levels.

As UNIAN reported earlier, Ukraine's Cabinet of Ministers on July 5 approved four draft agreements between Ukraine and the European Union on attracting additional funds worth EUR 86.9 million for the country's social and economic development.