The European Union is prepared to support Ukrainian reforms with 20 billion euro ($27.5 billion) after the country forms its new government, European Parliament Foreign Affairs Committee President Elmar Brok said.

He told the 1+1 channel on Sunday evening he believed that 20 billion euro would be on the table to back the reforms and the support could be granted immediately to prevent Ukraine's default.

The European Parliament deputy expressed hope for the soonest possible formation of a new Ukrainian government, which would carry out the reforms.

He promised the EU support for the new government and told Ukrainians they needed not to be afraid of default or that a lack of support would prevent the reforms.

The EU assistance will aim for the best economic conditions, which will prepare Ukraine for signing an association agreement with the European Union, he said.

Parties in Ukraine reach agreement day of mourning declared

Details of a peace agreement between the Ukrainian government and protestors were released Friday night, ending several days of intense fighting that left dozens dead. Read more>>>

The information in this section is provided by the Interfax news agency and is intended for personal use only. It may not be reproduced or distributed in any form without express permission from Interfax. To request permission to republish, email: ifaxru@interfax.ru