US offers Ukraine $1B loan to support economy amid tensions with RussiaBy Patrick Reilly
February 14, 2022
The United States has offered a sovereign loan guarantee to Ukraine of up to $1 billion to support the country’s economy as the Eastern European country prepares for a possible Russian invasion any day, the Department of State announced on Monday.
The offer “will bolster Ukraine’s ability to ensure economic stability, growth, and prosperity for its people in the face of Russia’s destabilizing behavior,” Secretary of State Antony Blinken said in a statement.
“This action builds on the support the United States, our allies, and partners, including the G7 and international financial institutions, have provided Ukraine to help protect its economy amid Russian pressure in recent years. “
The United States issued Ukraine three separate $1 billion dollar sovereign loan guarantees — which ensures that the borrower will pay the loan and interest back in full – between 2014 and 2016 when the country’s economy suffered after Russia annexed the Crimean Peninsula, the State Department said.
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Source:
https://nypost.com/2022/02/14/us-offers-ukraine-1-billion-loan-to-support-economy-amid-tensions-with-russia/
