Marshall Plan for Ukraine provides for EUR 5 bln annual support from EU – Kubiv

"We are discussing the Lithuanian plan for Ukraine for 2017-2020 and the New European Plan for Ukraine (the so-called "Marshall Plan"). The initiative of the Seimas of Lithuania provides for the economic, political and financial assistance for Ukraine in the context of European integration. This is about at least of EUR 5 billion in annual support for reforms aimed at economic growth and development," the minister wrote on Facebook.

According to Kubiv, the plan is now being actively discussed by key international institutions to form a "group of Ukraine's friends" and provide necessary support for its implementation.

Read alsoPoroshenko, European leaders discuss Marshall Plan for UkraineAs UNIAN reported earlier, in July, Ukrainian President Petro Poroshenko, President of the European Council Donald Tusk and President of the European Commission Jean-Claude Juncker discussed in Kyiv the possibility of developing a new long-term plan for economic support of Ukraine, a kind of a Marshall Plan, which is a comprehensive U.S. assistance program for Europe after World War II.

In April 2014, the European Union, which is one of Ukraine's largest lenders and donors, announced its readiness to provide financial assistance to Ukraine to the tune of EUR 11 billion: EUR 1.6 billion in loans, EUR 1.4 billion in grants, EUR 5 billion from the European Bank for Reconstruction and Development, and EUR 3 billion from the European Investment Bank. As part of the credit program, Ukraine has received only EUR 600 million.

In 2015, the EU proposed a new package of macro-financial assistance worth EUR 1.8 billion. Ukraine has already received EUR 1.2 billion under this program.

At the end of March 2017, the Congress of the European People's Party adopted a resolution on the development of a long-term plan for the support of Ukraine, the so-called Marshall Plan for Ukraine.