U.S. to offer US$1bn in aid to Ukraine

WASHINGTON – The Obama administration is working to provide Ukraine’s government with US$1 billion in loan guarantees, U.S. Treasury Secretary Jack Lew said.

“The U.S. Administration is working with Congress and the Government of Ukraine to provide US$1 billion in loan guarantees, the proceeds of which will be aimed at protecting the most vulnerable Ukrainian households from the impact of the needed economic adjustment,” Lew said in a statement.

The aid package is set to work alongside other international aid packages led by the International Monetary Fund (IMF).

“The IMF will be at the center of an international assistance package and is best placed to support Ukraine’s implementation of robust and market-oriented reforms.”

He added that the U.S. is prepared to provide Kiev with as much support as needed “to restore financial stability and return to economic growth, if the new government implements the necessary reforms”.

Lew`s announcement comes as U.S. Secretary of State John Kerry is currently in a Ukraine meeting with top government officials and leaders of the Verkhovna Rada, Ukraine`s parliament.

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