US promises up to $2 billion in loan guarantees for Ukraine

14 January 2015 08:40
(QHA) -

The United States has reinforced Western assistance for war-torn Ukraine by promising up to $2 billion in loan guarantees if the effort is matched by economic and political reforms in Kyiv, RFE/RL reports.

The U.S. State Department said on January 13 that it intends to provide $1 billion in loan guarantees during the first half of 2015 and an additional $1 billion during the second half of the year, if progress continues.

The commitment to help stave off a financial crisis comes a week after the European Union made a similar pledge of 1.8 billion euros ($2.1 billion) to strengthen Ukraine’s economy.

European Council President Donald Tusk said on January 13 that Ukraine could also expect more humanitarian aid to deal with its crisis.

Tusk also said the EU "must stay the course" with sanctions against Russia, at least until March.