Brussels will support Kyiv financially only if the necessary economic and political reforms are conducted in Ukraine.
This is stated in a press release following the first inaugural meeting of the EU-Ukraine Association Council.
“The Association Council acknowledged the importance of intensifying much needed political and economic reforms in Ukraine and the EU’s support package to support Ukraine in its efforts for launching this renewed reform process,” reads the document.
According to the statement, the EU and Ukraine agreed on the importance of coordination of support and on the need for Ukraine to rapidly finalize a National Reform Strategy 2015-2017 in order to set out the priorities and to attract international support for reform and recovery.
EU Commissioner for European Neighborhood Policy and Enlargement Negotiations Johannes Hahn said that Brussels had already provided EUR 1.36 billion to Kyiv in the form of macro-financial assistance. The Association Council acknowledged the EU’s readiness, in coordination with other donors and international financial institutions, to continue support for reforms, as well as rebuilding of Ukraine’s economy.
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