EU could provide EUR 11 Billion aid to Ukraine

The European Union is ready to give EUR 11 B of financial support to Ukraine over the next couple of years.

Speaking at a news conference held at the European Commission headquarters in Brussels, EC President Jose Manuel Barroso asserted that a peaceful solution to the current crisis is “the most immediate priority for the EU”.

There were no official details on the package, which, in Barroso’s words, will be aimed at assisting “a committed, inclusive and reforms oriented government” in the country.

The aid by the European Union, though significant, would not suffice to cover Ukraine’s financial needs, as the country’s Finance Ministry announced last week it needs USD 35 B to rescue the economy.

Earlier, the US said it could provide USD 1 B to the government in Kiev.