EU Aims to Boost Ukraine’s Economy With Single Market Access
(Bloomberg) -- The head of the European Union’s executive pledged to work to guarantee access for Ukraine to the bloc’s massive single market to help its war-torn economy, saying she would make her third trip to Ukraine since the invasion began later on Wednesday to discuss the plan with President Volodymyr Zelenskiy.
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“Europe’s solidarity with Ukraine will remain unshakable,” Ursula von der Leyen, president of the European Commission, told European lawmakers in her yearly State of the Union speech in Strasbourg. Sanctions imposed by the EU against Russia following its invasion “are here to stay.”
Her commission will work to ensure “seamless access to the single market of the European Union,” she said. “Our single market is one of Europe’s greatest success stories, we know the power that lies in the single market so now it is time to make it a success story for our Ukrainian friends too,” von der Leyen said.
Von der Leyen’s visit to Kyiv, the third since Russian invaded Ukraine, comes as Ukrainian forces pursue a counteroffensive in the east and south of the country. The US is preparing another package of aid to Ukraine, according to John Kirby, spokesman for the National Security Council, who cited a “shift of momentum” in the war.
Addressing Ukraine’s first lady, Olena Zelenska, who was among those listening to the speech, von der Leyen said she would work with her “to support the rehabilitation of damaged Ukrainian schools. We will provide what you need, this is 100 million euros because the future of Ukraine begins in its schools.”
The commission last week proposed a new funding package of 5 billion euros ($5 billion) for Ukraine as the nation battles to find resources for the war against Russia and for running the country. The money is part of a bigger package of 9 billion euros pledged by the bloc last May that remains largely to be transferred due to disagreement between the commission and member states over the details of the aid program.
(Updates with support for damaged schools in fifth paragraph)
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