LibMod-Policy Paper: INVESTMENT PLANS OF THE EU — opportunities for Ukraine in the area of the European Green Deal implementation
The analytical paper “Investment plans of the EU: opportunities for Ukraine in the area of the European Green Deal implementation” identifies the most important spheres of involvement for the Ukrainian government and businesses under the EGD policy. It also examines available investment and financing mechanisms for the Ukrainian state and private sector under existing Green Deal framework.
Investment plans of the EU
The European Union has ambitious plans on climate change and environmental investments in the upcoming decade, aiming to become carbon neutral by 2050. Under the European Green Deal framework, the EU will mobilize €1 trillion of investments for sustainable projects and policies that will come from the EU and national budgets, private capital and loan guarantees. Half of this financing is expected to be provided from the next budget of the Union, the 2021–2027 Multiannual Financial Framework.
Most of the EU financing under the European Green Deal will be available for member states – governments, private and non-profit sectors, and individuals. Yet, there still are ways for the Ukrainian businesses to get involved. One of such ways is to identify the areas where additional exports of goods or services will be needed, facilitate Ukraine-EU trade, and attract additional foreign investments in the national economy. As the EGD prioritizes certain areas, European businesses and governments will drive demand in biodiversity protection, sustainable agriculture, clean energy, sustainable industry, building and renovating, sustainable mobility, eliminating pollution, circular economy and digital technologies. Financial instruments such InvestEU, Just Transition Mechanism, Horizon Europe, Next Generation EU, Modernization Fund, Cohesion Fund, Connecting Europe Facility, Innovation Fund will be used to achieve the set goals.
Key questions discussed in this research are:
- Identification of areas that will be prioritized for development in the EGD strategic policies as those which will provide investment and export opportunities.
- Research of funding mechanisms for priority areas of the EGD that will be prolonged or created for the next EU budget period (2021–2027).
- Analysis of the potential of Ukrainian businesses to meet the growing demand from the EU countries in certain areas, the development of which will be accelerated by the EGD.
- Research of the EU plans in terms of international aid in its budget for the next period and under the EGD framework; selection of those available for Ukraine;
- Development of recommendations for different stakeholders in Ukraine, with a focus on the government and the private sector.
- Consideration of COVID-19 recovery aspect, with regards to both Ukrainian policies direction and its alignment with the EU course, and to financing available for economic and social indicators improvement in terms of third countries recovery.
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