France creates an agency for the development of Ukraine and will allocate ˆ450 million to it
Paris is also launching a fund for the development of Ukraine's critical infrastructure, for which it will allocate another ˆ200 million
The French government has announced that it is setting up an agency for the development of Ukraine and will allocate €450 million to it, Reuters reports. Paris is also launching a fund for the development of Ukraine's critical infrastructure, for which it will allocate another €200 million.
In particular, during the visit of Ukrainian President Volodymyr Zelenskyy to France, two agreements will be signed to support key sectors of the economy and critical infrastructure for a total of €650 million, according to a telephone press conference at the Elysee Palace.
The French Development Agency (AFD) will provide ‘projected funds of €400 million in loans and €50 million in grants until 2027 to expand its activities in Ukraine,’ the statement said.
The funds will be used to support, among other things, the energy and transport sectors.
The second agreement, worth €200 million, provides for the creation of a bilateral fund that will support projects involving companies with a French share of capital.
‘These funds will be used to finance large projects, to strengthen or replace failing energy infrastructure, as well as in the fields of transport, water, health and agriculture,’ the Elysee Palace said in a statement.
As reported, Volodymyr Zelenskyy will be in France on 6 and 7 June. On Thursday, he is scheduled to take part in the celebrations marking the 80th anniversary of the Allied landings in Normandy, and on 7 June, the President will address the French Parliament and hold talks with Emmanuel Macron at the Elysee Palace.
This will be the fourth visit of the Ukrainian president to France since the start of the full-scale invasion.
The French President's administration also confirmed today that Emmanuel Macron will attend the Peace Summit in Switzerland. France will not only provide military assistance to Ukraine, but also ‘political and diplomatic support,’ the administration said in a statement.
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