06:24 GMT27 May 2020
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    The US Treasury has announced plans to grant up to $2 billion in loan guarantees to Ukraine in 2015.

    WASHINGTON, January 13 (Sputnik) – Washington has announced plans to prove up to $2 billion in loan guarantees to Ukraine to aid the country, according to the statement by the US Treasury Department released on Tuesday.

    "As part of the international effort, the United States intends to provide a $1 billion loan guarantee to the Government of Ukraine in the first half of 2015, provided Ukraine remains on-track with the reform program it has agreed with the International Monetary Fund (IMF)," the statement reads.

    The Treasury added that if Ukraine continues making concrete progress on its reform agenda and if conditions warrant, an additional $1 billion loan guarantee will be provided in late 2015.

    "A mission from the International Monetary Fund is currently in Kyiv working with the Ukrainian authorities to assess their reform efforts and develop a new economic support package," the release stated.

    The United States has already given some $340 million in assistance to Ukraine in 2014, in addition to the $1 billion sovereign loan guarantee provided in May 2014.

    As a result of the ongoing crisis in the country, Ukraine has found itself on the verge of a default and tried to rescue its economy through international loans. In spring 2014, the IMF promised Kiev a total of $17 billion in bailout loans, to be paid over the course of two years.

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    Tags:
    International Monetary Fund, financial aid, US Treasury Department, Kiev, Washington, United States, Ukraine
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