26 October 2016

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Biden to Poroshenko: Steps taken to go ahead with $1 bln loan guarantee

Ukrainian President Petro Poroshenko has met with U.S. Vice President Joe Biden on the sidelines of the 71st session of the United Nations General Assembly, during which the U.S. official informed that all policy steps had been taken to go ahead with the issuance of Ukraine's third U.S. sovereign loan guarantee of up to U.S. $1 billion, according to the presidential administration.

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Poroshenko thanked the U.S.for strengthening sanctions against Russia / Photo from

"Vice-President Biden informed that the U.S. is ready to provide Ukraine with $1 billion in loan guarantees, since Ukraine has fulfilled necessary conditions," Poroshenko's administration said.

IMF's third $1 bln tranche arrives in UkraineThe Ukrainian president also emphasized the importance of a recent decision by the International Monetary Fund to disburse the third tranche and said he was committed to continue reforms in the country.

As Reuters reported, Biden said it was imperative for Ukraine's leadership to accelerate reforms needed to strengthen Ukraine's energy and justice sectors.

The parties also touched on the situation in eastern Ukraine and the implementation of the Minsk peace agreement on Donbas.

Further, Poroshenko thanked the United States for strengthening sanctions against Russia.

"The sides agreed to intensify diplomatic efforts to make Russia end aggression against Ukraine," the presidential administration said.

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