US ready to provide Ukraine with additional guarantees of $1 billion by year-end

REUTERS "If Ukraine continues making concrete progress on its economic reform agenda and conditions warrant, the U.S. administration will also be willing, working with Congress, to consider providing an additional loan guarantee of up to $1 billion in late 2015,” Nuland said. “And there’s more on the way. The president’s budget includes an FY16 request of $513.5 million – almost six times more than our FY14 request – to build on these efforts. Today we are working with Europe, the Ukrainians, and the IMF to strengthen the country’s economy and support implementing the government’s reform plan." As UNIAN reported earlier, in late January, Ukraine and the United States signed a declaration on providing Kyiv with loan guarantees from the U.S. government to the tune of $2 billion. U.S. Treasury Secretary Jacob Lew, in turn, also made a statement to journalists on the signing of the declaration of loan guarantees, saying that the U.S. government intends to propose that Congress increase the package of loan guarantees up to $3 billion in the case of the implementation of reforms in fighting against corruption, reforming the energy sector, and improving the business climate in Ukraine. As UNIAN reported earlier, in April 2014 the U.S. Congress and the Senate decided to allocate Ukraine financial guarantees of $1 billion. The decision was formalized in a bill that was then signed by U.S. President Barack Obama. In May 2014, Ukraine issued five-year Eurobonds worth a total of $1 billion against guarantees of the U.S. government in accordance with the Safeguards Agreement on borrowing between Ukraine and the United States.

US ready to provide Ukraine with additional guarantees of $1 billion by year-end

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