EU will allocate €50 million to Ukraine for the restoration of port infrastructure

The European Union will allocate €50 million to Ukraine to restore port infrastructure damaged by Russian attacks. This was announced by European Commission President Ursula von der Leyen.

«Despite the war, Ukraine continues to feed the world. In this effort, you can count on the EU. We are continuing to expand our Solidarity Lines and will provide €50 million to repair your port infrastructure. Together, we will send Ukrainian grain to the world,» von der Leyen said on Twitter (X).

The EC President also published a letter to the President of Ukraine Volodymyr Zelenskyy.

«Improved port capacity will accelerate the export of food and other goods that Ukraine supplies to world markets. Over time, our investments should allow Ukrainian ports to return to pre-war export volumes,» the letter states in particular.

Von der Leyen also praised Ukraine for opening a humanitarian Black Sea corridor after Russia’s withdrawal from the grain deal.

As GMK Center reported earlier, in January-October 2023, Ukrainian seaports increased cargo transshipment by 13.2% compared to the same period in 2022 – to 46.2 million tons. In the same period, port operators increased the transshipment of export cargo by 22.8% y/y – to 41.7 mln tons. Most of the cargo handled was grain – 34.9 million tons. Another notable part of exports is mining and steel cargo.

Also, Ukraine and a pool of British companies created a mechanism to facilitate exporters’ access to the Black Sea corridor.