Updated at 11:50,16-10-2017

EU-Ukraine: €20 bn to avoid default

Belsat

Europe would not leave Ukraine to its own device, Elmar Brok, Chairman of the European Parliament Committee on Foreign Affairs, told Ukrainian TV channel TSN.

According to the top official, €20 bn will be assigned to improving economic conditions, building better economic future of the country and preparing for signing an association agreement.



Earlier Christine Lagarde, the Managing Director of the International Monetary Fund, said that the IMF was ready to render financial assistance to Ukraine.

Meanwhile, Ukraine goes bankrupt, its treasury is empty, head of Batkivshchina (Fatherland) faction Arseniy Yatsenyuk told a meeting of parliamentary factions' leaders on Monday.

"Ukraine has never faced such a financial catastrophe for all years of its independence," he said, adding that Ukraine should immediately apply to the International Monetary Fund for financial assistance.