Olha Stefanishyna voiced areas to direct funding within the framework of the flagship initiatives of the Eastern Partnership in Ukraine

The Economic and Investment Plan for the Eastern Partnership countries was officially presented today at the Eastern Partnership Summit (EaP). It provides for € 2.3 billion in grants, a combination of financial resources and guarantees, with a total potential of up to € 17 billion in public and private investment.

The Economic and Investment Plan also contains a set of flagship initiatives for each of the partner countries.

"Ukraine will receive the largest support among the Eastern Partnership countries within the Economic and Investment Plan. The flagship initiatives will cover areas of shared interest for Ukraine and the EU, in particular, promoting the implementation of the European Green Deal, digital transformation. A significant share of the funding will be used to support small and medium-sized businesses that were severely affected by the pandemic. We thank the partners for their support and look forward to the start of the practical implementation of the flagship projects," said Olha Stefanishyna, Deputy Prime Minister for European and Euro-Atlantic Integration.

Among the flagship initiatives that the EU will support in Ukraine are as follows:

First. Supporting a sustainable, innovative, green and competitive economy. Budget EUR 1.5 billion. The EU will support business incubator-oriented programs and promote SMEs' access to financing by expanding their export opportunities. The aim is to directly support around 100,000 SMEs and the self-employed in developing business models that will also stimulate a climate-neutral, resilient and circular economy.

Second. Economic transformation of rural areas. Budget EUR 100 million. Land reform is one of the most important reforms currently underway in Ukraine, supporting the full transition to a liberal economy. The EU will contribute to the Fund for Partial Credit Guarantee in Agriculture, which will provide more than 10,000 small farms with quick access to affordable credit.

Third. Improving connections through modernization at border crossings. Budget EUR 30 million. We are talking about the introduction of electronic queues and data processing (especially for trucks), which will allow for simplifying business processes, in particular, through integrated data exchange. These steps will be complemented by further improvements in transport infrastructure, the expansion of the TEN-T network, including rail and road connections between major Ukrainian cities and border crossings with EU Member States.

Fourth. Acceleration of digital transformation - modernization of public IT infrastructure (servers, data processing centers, etc.). Budget EUR 200 million.

Fifth. Improving support for energy efficiency and hydrogen energy. Budget EUR 100 million. Funding will be used to support the Energy Efficiency Fund, the development of clean and renewable energy in Ukraine.