Since the first loan guarantee agreement was signed a year ago, Ukraine has been collaborating with the International Monetary Fund (IMF), the World Bank, the United States, and other international partners to implement a comprehensive reform program. This initiative aims to stabilize Ukraine's economy and set the stage for future growth and prosperity.
Secretary Lew emphasized, “Since we signed our first loan guarantee agreement one year ago, Ukraine has worked closely with the IMF, the World Bank, the United States, and other members of the international community to implement a robust reform program that will help stabilize Ukraine’s economy and lay the groundwork for future growth and prosperity.”
As Ukraine continues its economic reforms, international partners are working together to support full implementation of the Minsk agreements. This includes imposing costs on Russia for its actions in eastern Ukraine. Secretary Lew stated, “While Ukraine continues along the path of economic reform, we have been working with our international partners to redouble efforts to support full implementation of the Minsk agreements, including by imposing costs on Russia for its aggressive acts in eastern Ukraine."
The $1 billion loan guarantee agreement announced today is part of a larger financial package involving both official and private sectors. This package is designed to assist Ukraine as it implements an ambitious reform agenda. According to Secretary Lew, “Today’s $1 billion loan guarantee agreement is part of a comprehensive financial package, involving both official and private sectors, designed to support Ukraine as it puts in place an ambitious reform program. Ukraine has taken critical reforms already, and its commitment to making a decisive break with the corruption and stagnation of the past is clear. This progress must continue so that the people of Ukraine can realize the prosperity and stability they deserve.”