LATVIA(Riga): ‘ European leaders seek new ways to bolster ties with six post communist nations of Eastern Europe ‘

#AceFinanceReport – Latvia(Riga):May.21: European Union leaders on Thursday will seek new ways to bolster ties with six post-communist nations in Eastern Europe, a year and a half after a previous summit of the Eastern Partnership ended with a fateful standoff over Ukraine.

Just ahead of the two-day summit in Riga, the EU promised grants of 200 million euros ($223 million) over the next 10 years to promote small and medium-sized businesses in Georgia, Moldova and Ukraine.

The EU said the grants were expected to unlock investments of 2 billion euros by companies in the three countries.

The EU’s Eastern Partnership program suffered a major setback at the end of 2013 as Ukraine’s then-president Viktor Yanukovych withdrew from signing an association agreement and opted for closer links with Moscow and President Vladimir Putin.

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