EU preparing Reform Contract for Investment for Ukraine

14:20, 25.04.2018 1 min read

The European Union is designing a new investment program for Ukraine entitled "Reform Contract for Investment," European Commissioner for European Neighborhood Policy Johannes Hahn has said.

Hahn said in his article on the website of the Yevropeiska Pravda publication that this year as part of the new external investment plan of the EU for Ukraine some UAH 1.6 billion (EUR 50 million) could be reserved, including for compensation of lending by banks and, finally, for investing in the real economic sector.

Ukraine-wide this sum seems not too large, but if the money is used rationally, this would allow attracting up to UAH 16 billion (EUR 500 million) of private investment, Hahn said.

He said that first EUR 50 million will be provided this year only if before summer parliamentary holidays Ukraine will make next steps: independent regulation in the energy sector, fully featured work of members of the National Commission for Energy, Housing and Utilities Services Regulation (NCER), the approval of the business ombudsman and the annulment of e-declaration for anti-corruption activists.