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U.S. To Guarantee More Ukrainian Loans

The United States has announced it has signed a major new loan guarantee with Ukraine aimed at helping Kyiv stabilize its weakened economy.

The $1-billion commitment is the third of its kind issued by Washington since a pro-EU revolution brought down Ukraine's Russia-backed president in February 2014.

The pledge is to provide Ukraine with more affordable access to international capital markets and fill its gaping budget hole.

"The guarantee sends a strong signal of the United States' continued support for Ukraine as it pursues reforms that fulfill the Ukrainian people's aspirations for a prosperous and democratic future," US Ambassador Geoffrey Pyatt said in a statement on June 3.

Speaking in Kyiv on June 3, Ukrainian President Petro Poroshenko said the U.S. move indicates that the United States is "a reliable strategic partner for Ukraine."

The new U.S. assistance is part of a $40-billion global rescue package agreed by Ukraine and the International Monetary Fund in March 2015.

Based on reporting by AFP