US action to strengthen the Ukrainian economy
The United States reaffirms its strong commitment to the people of Ukraine by joining our allies and partners in mobilizing strong international support for Ukraine. The US government is providing a sovereign loan guarantee to Ukraine of up to $1 billion to support its economic reform program and its continued engagement with the International Monetary Fund (IMF). This offer, combined with the strong partnership between Ukraine, the IMF, other international financial institutions, the G7 and other bilateral donors, will strengthen Ukraine’s ability to deliver economic stability, growth and prosperity to his people in the face of Russia’s destabilizing behavior.
This action builds on the support the United States, our allies and partners, including the G7 and international financial institutions, have given Ukraine to help protect its economy from Russian pressure in recent years. . Between 2014 and 2016, the United States issued three separate $1 billion sovereign loan guarantees to Ukraine. These loan guarantees have played a vital role in helping Ukraine stabilize its economy despite previous Russian aggression and implement a bold economic reform program underpinned by ambitious cooperation with the IMF. The United States has provided more than $2 billion in development assistance to Ukraine since 2014. The U.S. government has also worked to promote commercial participation of U.S. companies in Ukraine’s economy. The Export-Import Bank of the United States intends to make available up to $3 billion to facilitate the purchase of American goods and services for projects in Ukraine, while the American International Development currently holds an investment portfolio in Ukraine of approximately $800 million spread over more than a dozen projects.
We are exploring other ways to support Ukraine and its people, and we will continue to work with Congress to advance these efforts.