The head of the European Commission revealed that The EU is already close to reaching an agreement on this matter with the US and Ukraine. She admitted that we were talking about “one document” presenting a common vision of Ukrainians, Americans and Europe regarding the post-war future of Ukraine.
“It is actually based on a needs assessment carried out by the World Bank and proposes actions based on five different pillars,” von der Leyen said.
Five pillars of economic support for Ukraine
She revealed that the first pillar is to increase the efficiency of the Ukrainian economy through business-friendly reforms and greater market competition.
The second pillar concerns the acceleration of Ukraine's integration with the EU single market through reforms in key economic sectors. The third pillar concerns a significant increase in investment.
— We can use the structures we have created since the beginning of the war. This is so far the EU's main investment instrument for the country and it is clearly producing results, said von der Leyen.
What are the five pillars of economic support for Ukraine?
Who announced the economic support package for Ukraine?
What does the first pillar of support for Ukraine include?
What action is the EU taking in response to Russia's winter attacks?
The fourth pillar concerns better coordination of the activities of donors, i.e. private entities willing to invest in Ukraine. – We need not only public funds, but also private investments – admitted the head of the European Commission. However, she assured that in this case too, the EU has a solid and proven structure in the form of a donor platform for Ukraine. It brings together G7 countries, the European Commission, Ukraine and other partners.
The fifth pillar concerns fundamental reforms, which are a precondition for launching the package. This involves strengthening the rule of law, intensifying anti-corruption activities and modernizing public administration.
– In this way, we can build the trust of our partners, and the trust of investors is of great importance – said the head of the European Commission.
– We're almost ready. We are actively preparing the future of Ukraine as a modern, sovereign and free country – assured von der Leyen.
Difficult winter in Ukraine
The head of the European Commission also announced that with the arrival of winter, Russia doubled its attacks and that is why the EU doubled its support for Ukraine.
“This week we are sending 447 emergency generators worth $3.7 million to restore power to hospitals, shelters and critical services,” von der Leyen said. She added that, apart from the economic support package for Ukraine, talks on the security package and aspects of the peace talks are also progressing successfully.
