European Commission signs 1.1-bln-euro agreements in Gdansk as part of Ukraine investment program
BRUSSELS. June 26 (Interfax) - The European Commission signed agreements totaling more than 1.1 billion euros at the Ukraine Recovery Conference in Gdansk on Thursday to provide new financing for Kiev's investment program.
The agreements have been signed with European Commission partners, among them the European Investment Bank and the European Bank for Reconstruction and Development, "to support recovery, reconstruction and strategic investments across the country," the European Commission said in a statement.
"The prosperous Ukraine of tomorrow requires massive investment today. That's why we are helping cities and towns to rebuild. We are supporting the resilience of the energy sector. We are providing financing to businesses, including in frontline regions. [...] The message to investors is simple - when you invest in Ukraine, you invest in the future of Europe," European Commission President Ursula von der Leyen said.
As pledged at last year's Ukraine Recovery Conference in Rome, the European Commission launches "the European Flagship Fund for the Reconstruction of Ukraine, thereby creating the largest equity fund dedicated to Ukraine's reconstruction," the statement said.
The European Commission supports the Fund via the European Investment Bank, together with France, Germany, Italy and Poland. With the initial 220-million-euro capital, including the European Commission's 160-million-euro contribution to the Ukraine investment program, the Fund is set "to leverage up to 7 billion euros in investments for large-scale infrastructure, productive industries and other projects critical to Ukraine's economic recovery," the statement said.
Besides the European Commission president, European Economy Commissioner Valdis Dombrovskis, European Defense Commissioner Andrius Kubilius, European Enlargement Commissioner Marta Kos, and European Research and Innovation Commissioner Ekaterina Zaharieva attended the conference.
