WASHINGTON - Yesterday USAID announced the issuance of a $1 billion loan guarantee from the United States to the Government of Ukraine to support the implementation of key economic and governance reforms necessary for Ukraine's democratic transition and sustainable economic recovery.

The latest U.S. loan guarantee is a strong signal of U.S. support for the Ukrainian people in a time of need and reinforces Ukraine's economic and governance reform program, as supported by the International Monetary Fund, World Bank, European Bank for Reconstruction and Development, European Union, and other donors.  It also supports the economic recovery and the Government of Ukraine's access to private capital markets. The reforms supported by the guarantee will help Ukraine fight corruption, improve economic governance, increase its economic resilience, and protect the most vulnerable Ukrainians from the impacts of economic adjustments.  

"USAID is proud of our ongoing commitment to the Ukrainian people and government to foster critical economic and democratic reforms," said USAID Administrator Gayle Smith.  "This loan guarantee and USAID's ongoing assistance in Ukraine will bolster the process of implementing meaningful reforms and will bolster efforts to combat corruption and build a more independent, democratic, and financially viable and prosperous Ukraine." 

This will be the third $1 billion U.S. loan guarantee issuance for Ukraine after two guarantees were issued in May 2014 and May 2015, respectively.