On May 18, a ceremony of signing an Agreement on the granting of credit
guarantees worth 1 billion U.S. dollars between the Governments of Ukraine and
the USA took place. From the Government of Ukraine the Agreement was signed by
the Minister of Finance of Ukraine Natalie Jaresko, from the US Government
– by the U.S. Ambassador Geoffrey R. Pyatt and USAID mission Director
Jed Barton. This document is intended to support economic reforms, designed to
restore economic activity and expand economic opportunities for the citizens of
Ukraine.
Loan guarantees in a total amount of $7.5 billion will be provided over the
next year as part of a wider package of financial support for Ukraine by its
bilateral and multilateral partners.
"On behalf of the Government and people of Ukraine, I would like to
express sincere gratitude to the USA for their constant and unwavering support.
This Agreement on granting credit guarantees is the cornerstone of this support
much needed for our country at this critical moment," stressed Minister of
Finance of Ukraine Natalie Jaresko.
The mechanism of granting credit guarantees is identical to those credit
guarantees worth $1 billion those provided to Ukraine in May last year. Due to
the Agreement the market participants will evaluate the risk of Ukrainian
Eurobonds at the level of sovereign risk in the USA.
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