Ukraine invites EU to develop EU Association roadmap

First Deputy Prime Minister Serhiy Arbuzov has said he intends to sign a "road map" for Ukraine's integration with the European Union. The document must identify the risks our country is facing and assess the size of the necessary assistance to overcome them. The total amount of the expected aid that might be provided as loans is projected to reach about 10 billion EUR, the Information-Analytical Bulletin of the cabinet of Ministers of Ukraine reports.

"At the start of September I calculated that from 3 to 5 billion EUR would be enough for Ukraine to start the modernization process. The crisis deepened siince then and it is necessary to recalculate the costs involved. The total amount necessary is not 160 billion EUR, but closer to 10 billion EUR. We have asked for loans, which we will pay back when they become due,” Arbuzov said. 

According to Arbuzov, the 160 billion EUR required for European integration previously announced by government was only a theoretical calculation. "We are talking upgrade of jobs for over 10 years. This is a theory, just theory," Arbuzov said. Experts note that the understanding with the EU on the necessary assistance to Ukraine was reached before the summit in Vilnius. European officials previously expressed a lack of understanding of the methodology proposed by the Ukrainian side for calculations of possible losses.

Government analysts have pointed out that the agreement to develop a “road map" has been reached. There are plans to establish a joint working group. It is expected that the joint group will work for about a month to develop a document which will lead to the signing of the Association Agreement. Experts say the creation and implementation of a document like that is an effective tool in the international practice to resolve differences between the parties and reaching an agreement. In addition, the "road map" includes development of a number of effective steps to help achieve the goals.