Jose Manuel Barroso – Photo Courtesy of Keystone
President Obama’s administration has already offered $1 billion in aid to Ukraine (although we don’t know where that money is coming from?). Now the European Union is prepared to offer the country $15 billion in grants and loans to help the new government and improve Ukraine’s financial position.
Jose Manuel Barroso, head of the European Commission, announced the offer. According to reports, the EU’s assistance package would include $4 billion in loans and development grants over the next several years, with a large portion to be made available immediately “to help Ukraine address its more urgent needs, including stabilizing the financial situation and supporting the functioning of the new administration,” the EU said in a statement.
The additional $11 billion would be provided by financial institution. The aid package will depend on Kiev’s agreement to implement economic reforms demanded by the International Monetary Fund.
As far as where Russia stands, the United States Secretary of State John Kerry and Russian Foreign Minister Sergey Lavrov will meet in Paris today.
