The current Solidarity Paths are reaching the limit of their capacity amid high logistics costs, the European Commission said.
EU countries and international partners are allocating 1 billion euros as part of the Solidarity Path initiative, which was announced in May this year for the export of Ukrainian grain. The European Commission reported this on Friday, November 11.
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It is indicated that the Methods of Solidarity, thanks to which more than 15 million Ukrainian agricultural products are exported, “reach the limit of their capacity” amid high logistics costs.
“To support and further increase the capacity of ‘cohesion paths’, we will mobilize significant investments through various ongoing EU and national programmes,” the statement said.
Thus, the European Commission itself is urgently allocating 250 million euros in grants for the development of Solidarity Pathways, and in the medium term – another 50 million euros to expand their capacity through the Uniting Europe fund.
In addition, by the end of 2023, the European Investment Bank (EIB) plans to invest up to 300 million euros in projects in line with the objectives of Solidarity Pathways. The European Bank for Reconstruction and Development (EBRD) will invest the same amount during 2022-2023.
Also, the World Bank Group will provide up to $100 million by 2023 to repair and restore rail and road infrastructure damaged by military operations.
“We also call on our international partners to provide additional financial support for these activities, which are important for Ukraine, Moldova and global food security,” the European Commission said.
Recall that after the start of the war, Ukraine exported more than 26 million tons of agricultural products. At the same time, in October, the volume of shipments of agricultural products on all routes reached 6.9 million tons.
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Source: korrespondent
I am David Wyatt, a professional writer and journalist for Buna Times. I specialize in the world section of news coverage, where I bring to light stories and issues that affect us globally. As a graduate of Journalism, I have always had the passion to spread knowledge through writing.