EC vice-president: Ukraine needs more financial assistance than expected

REUTERS

The IMF estimates Kyiv will need $41 billion of aid over the next four years to stabilize its economy. More than $17 billion is expected to be allocated to Kyiv by the fund this year alone.

"I believe that this amount would be even greater, [as] 1.5 million people have lost a roof over their heads because of the war - I think that to support these people we will need more money than we have thought," Georgieva said, adding that the EU will continue to assist Ukraine even after 2020.

Georgieva also called the financial support to Ukraine "a task for a generation."

"We must take into account not only the cost of the restoration of Ukraine, - she said.

“It is a rich country - in terms of mineral resources, and the abilities of its people."