$1 B loan guarantee signed

KYIV – The United States and Ukraine on May 18 signed a $1 billion loan guarantee agreement in Kyiv, paving the way for a loan guarantee that will make it more affordable for the government of Ukraine to borrow money from international capital markets. A loan guarantee under this agreement will help the Government of Ukraine continue critical spending to protect and provide for the most vulnerable Ukrainians as it continues to implement its ambitious program of economic reforms. Today’s agreement demonstrates the United States’ ongoing dedication and support to Ukraine. A press release noted: “The United States remains committed to working together with international partners to ensure Ukraine has the support it needs as it continues to move forward with reforms to restore economic stability and lay the groundwork for the full realization of Ukraine’s economic potential. We welcome the significant steps Ukraine has taken in recent weeks to advance its reform agenda in line with its new IMF program. If Ukraine continues making concrete progress on its economic reform agenda and conditions warrant, we will also be willing, working with Congress, to consider providing up to an additional $1 billion loan guarantee in late 2015, for a total potential loan guarantee of up to $2 billion in 2015.” (U.S. Embassy Kyiv)