A 'Support Group' was created for Ukraine

The European Commission will create a 'support group' for Ukraine, which will be extended to the Republic of Moldova, in order to coordinate the financial efforts of the Member States, foreign donors and the IMF, announced some European sources.

The 'Support Group', whose creation will be officially announced on Wednesday, will be coordinated by the European Commissioner for Enlargement and Neighbourhood Policy Stefan Fule.

It must "identify and coordinate with the Ukrainian authorities the help they need to stabilize the economy and the political situation", said the cited sources.

The European Commission presented in March, a massive aid plan for Ukraine, worth at least €11 billion in loans, donations and business advantages.

It also provided significant reductions in customs duties to Kiev, in a total of about €500 million a year.

The IMF announced an aid of between $14 and $18 billion, the payment of which will depend, however, adopting measures, in particular the increase in the natural gas price and wage freezing in the public sector.

The work of the 'support group' may be extended to Georgia and Moldova, two former Soviet republics, which are about to sign, in the near future, the Association Agreement with the European Union.