US and EU support development of recovery plan for Ukraine with democratisation reforms

The United States and the European Union on 20 October confirmed their readiness to support Ukraine "as long as it takes", particularly in the development of a Ukraine Plan – a document with a list of reforms and priorities in reconstruction.

Source: a joint statement based on the results of a EU-US summit held on 20 October, as European Pravda reports.

European and American leaders said they are aware of "the urgency of disrupting Russia’s attempts to destroy the Ukrainian economy" and the corresponding need to step up efforts to support Kyiv.

Quote: "As co-chairs, along with Ukraine, of the Multi-agency Donor Coordination Platform, we are working together with Ukraine as it develops its Ukraine Plan, embedded in its European path," the statement reads.

This Plan should contain "a common set of near-term priority economic, rule-of-law, and democratisation reforms and a prioritised and well-coordinated approach to recovery and reconstruction assistance and investment", the US and EU leaders emphasise.

They separately confirm that they will continue to provide Ukraine with funding to achieve these goals – including protecting, repairing and rebuilding its energy sector in line with EU standards.

"We acknowledge Ukraine’s commitment and progress in their reform efforts, and underline the strategic importance of its EU accession process," the authors of the statement say.

Background:

• The Ukrainian Ministry of Economy previously reported that the Ukraine Plan is a comprehensive document that will become a programme for the recovery and economic development of the state for the next four years and will initially consist of six main blocks: energy, transport and logistics for export, agro-industrial complex, critical materials, IT and digitalisation, as well as manufacturing and green metallurgy.
• First Deputy Minister of Economy Oleksii Soboliev said that Ukraine aims to finalise the plan by the end of November to present it to the EU and coordinate it with its Ukraine Facility programme for EUR 50 billion.

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