Home Foreign News US offers Ukraine $1B loan to support economy amid tensions with Russia

US offers Ukraine $1B loan to support economy amid tensions with Russia

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US offers Ukraine $1B loan to support economy amid tensions with Russia

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.

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“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. “

In addition, The State Department said the Export-Import Bank of the United States plans to free up $3 billion “to facilitate procurement of U.S. goods and services for projects in Ukraine.”

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“We are exploring additional ways to support Ukraine and its people, and we will continue to work with Congress to advance these efforts,” Blinken said.

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