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US signs new loan guarantee agreement for Ukraine

(Xinhua) Updated: 2015-05-19 10:40

WASHINGTON - The United States on Monday signed its second 1-billion-US-dollar loan guarantee agreement for Ukraine in support of the latter's efforts to stabilize the economy.

The deal is part of a comprehensive financial package, involving both official and private sectors, designed to back up Ukraine in its reform to stabilize the economy and lay the groundwork for future growth and prosperity, said the US Secretary of the Treasury Jacob Lew in a statement following the signing of the agreement.

Washington signed its first such loan guarantee agreement for Ukraine a year ago.

Ukraine is currently negotiating with creditors on debt restructuring, key to an international bailout estimated at $40 billion.

The step is needed to pass the first review of the International Monetary Fund's portion of $17.5 billion that would unblock the next tranche of the aid.

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