The European Union will offer Ukraine bilateral financial assistance under the Neighbourhood, Development and International Cooperation Instrument (NDICI) in 2021 to support key reforms and the implementation of the EU-Ukraine Association Agreement, according to a joint statement issued following the 23rd Ukraine-EU Summit.
“The EU intends to propose the 2021 bilateral financial assistance under the Neighbourhood, Development and International Cooperation Instrument (NDICI) to support key reforms and the implementation of the EU-Ukraine Association Agreement, including its Deep and Comprehensive Free Trade Area,” reads the joint statement published on the website of the president on October 12.
“We welcomed the presentation by the EU of an Economic and Investment Plan for the Eastern Partnership and its flagship initiatives for Ukraine, which will mobilize up to 6.47 billion euros in public and private investments to boost economic development and support post-pandemic recovery and agreed on its swift implementation,” the statement reads.
According to the document, the EU reiterated the ongoing humanitarian support to the conflict-affected population in eastern Ukraine with an amount of EUR 25.4 million for 2021.
The sides agreed to fully comply with the DCFTA commitments (including by addressing trade irritants, such as the wood export ban, by adopting the measures necessary to comply with the relevant Arbitration Panel Ruling, and by ensuring that the use of trade defense procedures is in all cases in full conformity with WTO standards), and to further discuss and review the ways to improve DCFTA implementation in order to unlock its full potential and further develop and facilitate bilateral trade.
