Billionaire financier George Soros has said he is ready to invest $1bn in Ukraine, if Western countries help private investment there. 

He also put the odds of Greece leaving the euro at a third, in an interview with Austrian newspaper Der Standard.

Mr Soros has previously urged the West to step up aid to Ukraine, outlining steps towards a $50bn financing package that he said should be viewed as a bulwark against an increasingly aggressive Russia.

"The West can help Ukraine by increasing attractiveness for investors. A political risk insurance is necessary," he said. 

"This could take the form of mezzanine financing at EU interest rates - very close to zero," he said in an interview published today.

"I stand ready. There are concrete investment ideas, for example in agriculture and infrastructure projects. I would put in $1bn. This must generate a profit. My foundation would benefit from this ... Private engagement needs strong political leadership."

The Hungarian-born hedge fund magnate, who made his name betting against the pound in 1992, also put the chance of Greece leaving the euro zone at a third. 

Last week he put it at 50:50.