MOSCOW, October 28 (RIA Novosti) – Ukraine is expecting to receive financial support amounting to 760 million euros from the European Union and $500 million from the World Bank by the end of 2014, Finance Minister Oleksandr Shlapak was quoted by UNIAN news agency as saying Tuesday.
"Ukraine expects to receive 760 million euros from the EU and around $500 million from the World Bank by the end of the year," the minister was quoted as saying.
As a result of the ongoing political crisis in the country, Ukraine is currently on the verge of a default. Kiev authorities are trying to rescue the country's economy with international loans, including a $17 billion loan from the International Monetary Fund.
Kiev also has a significant gas debt that its gas company Naftogaz owes to Russian energy giant Gazprom.
Ukraine is also expected to host an international donor conference, organized by the European Union, in January 2015.
The military operation initiated by Kiev authorities in mid-April to suppress independence supporters in the country's east has claimed the lives of 3,700 people and left over 8,800 injured. On September 5, the conflicting sides reached a ceasefire agreement at a Contact Group meeting in Minsk.
As a result of the conflict, the country's eastern regions require huge investments for the reconstruction and restoration of infrastructure.