European Commissioner Hahn calls investment plan for Ukraine 'inexpedient'

The European Commissioner for Neighborhood Policy & Enlargement Negotiations, Johannes Hahn, expressed the opinion that a new investment plan for Ukraine is “inexpedient”.

"We have many tools that are already working for Ukraine [and] other countries of the Eastern Partnership," Hahn said, commenting on a question about whether the creation of a trust fund is planned in the European Union.

He also noted that among available tools is an external investment plan by the European Union, created, in particular, for the countries of Africa. The same plan, according to the European Commissioner, can be applied to the Eastern Partnership countries.

"The purpose of this Fund is to provide risk guarantees to European companies that want to enter new markets," Hahn said.

According to Hahn, during a discussion with Lithuanian Foreign Minister Linas Linkevičius about the EU plan for Ukraine (also known as the Marshall Plan for Ukraine), Hahn realized that it was a question of "repackaging" what already exists. "Of course, money is never enough, but I think that there are [in Ukraine] enough money," said the Vice-President of the European People's Party (EPP). He added that the main issue is the use of money.

It was earlier reported that the European Union plans to offer Ukraine and other partners access to the EU External Investment Plan during the Eastern Partnership summit.

  Ukraine, Johannes Hahn, Marshal Plan for Ukraine