KIEV, October 19 (RIA Novosti) - A so-called donor and investors conference on Ukraine's financial issues, organized by the European Union will take place in Kiev in the end of January 2015, a source from Ukraine’s government told RIA Novosti on Sunday.
“We have determined that the conference will take place in the end of January. According to preliminary agreement, it will be held in Kiev,” a source said.
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, which is estimated to stand at over $5 billion.
The military operation initiated by Kiev authorities in mid-April to suppress independence supporters in eastern Ukraine claimed the lives of 3,700 people and left over 8,800 injured. Due to the conflict, Ukraine's southeastern regions have witnessed a severe humanitarian catastrophe, with many citizens still struggling without clean water, electricity and other basic necessities.
Country’s eastern regions require huge investments for reconstruction and the restoration of infrastructure.
