The Eastern Partnership’s agenda for recovery, resilience and reform is underpinned by an ambitious Economic and Investment Plan. Over the next five years, this plan will mobilise €2.3 billion from the EU budget in grants, blending and guarantees, to stimulate jobs and growth, support connectivity and the green and digital transition.
But this is just a starting point: the EU’s support under the Economic and Investment Plan should facilitate further public and private investments, by joining the forces of the EU, the European Investment Bank, the European Bank for Reconstruction and Development, and other International Financial Institutions, as well as development finance institutions from the EU Member States, partner countries’ national, regional and local governments, municipalities where relevant, and private investors. In this way, the plan is expected to leverage up to €17 billion in public and private investments to support the post-pandemic recovery.
The plan will combine actions to be implemented at local, national and regional level, and will be adapted to the specific needs of each partner country.
The Economic and Investment Plan underpins the Investment pillar of the post-2020 priorities for the Eastern Partnership, which supports post-COVID 19 socio-economic recovery and the aim to build back better through accelerating the green and digital transition.
However, these investments must be combined with clear progress in the fields of judiciary reform, public administration reform and human rights – the Governance pillar, which includes support for democracy, human rights, rule of law reforms, support for the fight against corruption, gender equality, support to civil society and independent media – all key values of the European Union, and the basis of a strong society that provides for its citizens.
Transforming the EaP economies to make them more resilient and integrated has become even more urgent in the context of the post-COVID recovery.
In line with the long-term policy objectives for the EaP beyond 2020, investments will be focused in the following main areas:
However, for such investments to be effective and to foster development that is sustainable, improvements to the policy and regulatory environment are essential. The EU’s support will reflect its conditionality and incentive-based approach, and investments must be combined with clear progress in the fields of judiciary reform, public administration reform and human rights.
You will definitely feel the difference. The Economic and Investment Plan contains a set of five flagship initiatives for each of the partner countries. These are concrete projects that will have a direct impact on people and businesses on the ground.
While the plan is a key part of the European Union’s support for recovery following the COVID-19 pandemic, it aims to do so by advancing each country’s strategic interests, supporting longer-term resilience and competitiveness, and delivering tangible benefits. The flagships have therefore been identified jointly with the partner countries, taking into account their own priorities, needs and ambitions.
The five flagship initiatives for Armenia are:
The five flagship initiatives for Azerbaijan are:
The proposed support is dependent on a democratic transition. In the event that this takes place, the EU would support Belarus through the following five flagship initiatives:
The five flagship initiatives for Georgia are:
The five flagship initiatives for the Republic of Moldova are:
The five flagship initiatives for Ukraine are: