EU pledges €11bn in aid for Ukraine
The head of the European Union’s (EU) executive arm has said the bloc is ready to provide Ukraine an €11bn aid package in loans and grants over the coming years.
European Commission president Jose Manuel Barroso said it will include €1.6bn in loans and €1.4bn in grants from the EU as well as €3bn in fresh credit from the European Investment Bank.
Mr Barroso did not immediately provide details over what time the money will be disbursed and which conditions on overhauling its economy the government in Kiev will have to meet.
The United States has already announced a €1bn aid package in energy subsidies.
Kiev estimates it needs $35bn (€25bn) in international rescue loans over the next two years.
