US offers Ukraine $1 billion loan guarantee

The U.S. previously issued three separate $1 billion sovereign loan guarantees to Ukraine between 2014 and 2016

Secretary of State Antony Blinken announced late Monday that the U.S. is offering Ukraine a loan guarantee of $1 billion to help strengthen its economy in the midst of "Russia’s destabilizing behavior", Qazet.az reports citing The Hill.

The loan will help support Ukraine's "economic reform agenda and continued engagement with the International Monetary Fund" and promote "economic stability, growth, and prosperity," according to a statement by the department.

The U.S. previously issued three separate $1 billion sovereign loan guarantees to Ukraine between 2014 and 2016. The State Department added that it would be seeking "additional ways to support Ukraine and its people."

"The Export-Import Bank of the United States intends to make available up to $3 billion to facilitate procurement of U.S. goods and services for projects in Ukraine, while the U.S. International Development Finance Corporation has a current investment portfolio in Ukraine of approximately $800 million across more than a dozen projects," the department said in its announcement.