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USAID Issues $1B Loan Guarantee to Support Economic, Governance Reform in Ukraine

PenMoneyThe U.S. Agency for International Development has issued a $1 billion loan guarantee to Ukraine in support of economic and governance reforms as the country undergoes a democratic transition.

USAID said Friday the guarantee aims to help Ukraine implement reforms in an effort to fight corruption, aid economic governance and resilience and secure citizens from the impacts of economic adjustments.

The agency added that the guarantee will also support the country’s economic recovery and its access to commercial capital markets.

“This loan guarantee and USAID’s ongoing assistance in Ukraine will bolster the process of implementing meaningful reforms and will bolster efforts to combat corruption and build a more independent, democratic and financially viable and prosperous Ukraine,” said Gayle Smith, USAID Administrator.

This is the third $1 billion U.S. loan guarantee issued to Ukraine and the country has received support from the International Monetary Fund, World Bank, European Bank for Reconstruction and Development, European Union and other donors.

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