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Wednesday, November 13, 2019

U.S. pledges $1 billion in aid to Ukraine for reforms

The U.S. Treasury Department said Tuesday that the U.S. will continue to support Ukraine through its recovery with a $1 billion loan guarantee as long as the nation remains on track with its intended reform programs.

Ukraine has agreed to implementation of reformation measures with the International Monetary Fund (IMF). If the country continues making progress toward recovery, the U.S. government will work with its legislators to approve aid in the form of a $1 billion loan. The Treasury Department said this loan would build on the $340 million that already has been granted and a $1 billion loan that was provided in May.

“We are encouraged by the strong reform progress made by the Ukrainian authorities to date, and applaud their strong cooperation with the IMF and their continued commitment to difficult, but necessary, reforms,” U.S. Treasury Secretary Jacob Lew said.

The U.S. also commended the country on the progress it made in 2014 in implementing measures to combat corruption and to enhance and strengthen the energy and financial sectors, as well as the overall business environment.

Organizations in this Story

International Monetary Fund United State -Ukraine Business Council (USUBC)

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