EU eyes allocating 17B euros in investments for Eastern Partnership countries

The EU will mobilize 17 billion euros in investments for the Eastern Partnership countries to develop a more dynamic economy and society in the region, said EU Commissioner for Enlargement and Neighborhood Oliver Varhelyi, Report informs referring to Kyiv Post.

Varhelyi said at a conference on Ukraine reforms, which is taking place in Vilnius on July 7, that he is in Georgia today but glad to join the conference via video link.

He said he was engaged in delivering a very positive message for the Eastern Partnership countries, including Ukraine, about a significant new economic and investment plan for the region, adding that they are mobilizing 17 billion euros investment for the region to build new, more sustainable and more dynamic economies and societies in the region.

Earlier, the European Commission and the EU High Representative for Foreign Affairs and Security Policy outlined a proposal on how to take forward priorities for cooperation with Eastern partners in the years to come.

This agenda is based on the five long-term objectives, with resilience at its core, as defined for the future of the Eastern Partnership in March 2020. It will be underpinned by a €2.3 billion Economic and Investment plan in grants, blending, and guarantees, with a potential to mobilize up to €17 billion in public and private investments. This proposal will contribute to the discussions on the future Eastern Partnership policy, including at the Eastern Partnership summit planned for December 2021.

The comprehensive agenda aims to increase trade, growth, and jobs, invest in connectivity, strengthen democratic institutions and the rule of law, support green and digital transitions, and promote fair, gender-equal, and inclusive societies.