The European Commission and several development banks have announced that they will mobilize one billion euros to facilitate the export of cereals from Ukraine despite the Russian offensive and the threat of blocking the ports of the Black Sea.
The Community executive, the European Investment Bank (EIB), the European Bank for Reconstruction and Development (EBRD) and the World Bank will invest this money in the "
corridors of solidarity
" set up since May by the EU.
These are routes intended to transport grain from Ukraine by road or rail freight to ports in the European Union from which it can be shipped around the world.
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“
Where Russia sowed destruction, Europe restored hope.
Solidarity Corridors have brought food to the world and income to Ukraine.
Today we are investing one billion euros to give these corridors a boost
,” tweeted Commission President Ursula von der Leyen.
The Russian invasion has seriously disrupted harvests and grain exports from Ukraine, a major agricultural country, despite an agreement obtained under the aegis of Turkey and the UN, which expires on November 19.
These disruptions threaten to lead to famine in parts of Africa and the Middle East.
The funds announced on Friday are intended to reduce waiting times for trucks and trains traveling through Moldova and Ukraine to Poland and Romania.
The European Commission is planning an emergency grant of 250 million euros to provide equipment to improve traffic flow at border posts and the roads leading to them, according to a statement.
The longer-term financing from development banks brings the total announced on Friday to around one billion euros and will help support repairs and development of road and rail freight infrastructure in Ukraine.