WASHINGTON, D.C. – The United States today reaffirmed its strong commitment to the people of Ukraine and their democratic transition by signing a $1 billion sovereign loan guarantee agreement with the Ukrainian Government. Treasury Secretary Jacob Lew and Ukraine Minister of Finance Oleksandr Shlapak participated in the signing ceremony in the Cash Room at the Department of Treasury in Washington, D.C.
U.S. Agency for International Development (USAID) Associate Administrator Mark Feierstein and USAID Assistant Administrator for Europe and Eurasia Paige Alexander participated in the signing ceremony, and issued these statements:
“The $1 billion loan guarantee that USAID will implement will help the Government of Ukraine access capital at reasonable rates and manage the transition to a prosperous democracy,” said Feierstein. “The guarantee assures investors of full repayment of principal and interest.”
“This agreement is part of a package of assistance approved by the U.S. Congress and President Obama which will support the Ukrainian people's aspiration for their own democratic and economic stability. USAID will support the Government of Ukraine as it implements constitutional and electoral reforms that fulfill its stated goal of becoming a fully inclusive and economically stable democracy,” said Alexander.
The loan guarantee will complement the financing that Ukraine is expected to obtain from the International Monetary Fund (IMF), other international financial institutions, the European Union, and other donors as part of a larger economic reform and restructuring plan.
Last updated: November 21, 2014