Cistran Finance Exploring the Spirit of Capitalism's New Frontier

Monday, March 27, 2017

European Commission to adopt development package for Ukraine

The European Commission announced last week plans to adopt a special support package worth $485 million that would help stabilize and develop Ukraine.

The conditional program requires reforms in fighting corruption, public administration, constitutional reform, electoral legislation and justice reform. The country will receive the first disbursements from the program after the government signs a financing agreement with the European Commission.

"The EU is not only closely watching events in Ukraine and expressing its readiness to support it, but is also delivering in deeds," stefan Fule, the commissioner for European neighborhood policy, said. "With today's assistance package we are encouraging and supporting the Ukrainian authorities to continue with reforms and in the process of inclusive national development. This package will also support the European Agenda for Reform, recently discussed with the Ukrainian authorities."

The two-part program will put money toward a state building contract and support to civil society.