U.S. intends to commit $220 million in new assistance to Ukraine
The United States plans to commit $220 million in new assistance to Ukraine this year in support of economic, political, and energy reforms, according to a posting on the website of White House published after a meeting of Ukrainian Prime Minister Volodymyr Groysman and Vice President Joe Biden.
"This assistance package will continue our support for Ukraine’s efforts to strengthen democratic institutions and the rule of law, reinforce the foundations for sustainable economic growth, and respond to humanitarian needs," says the report.
The funds will be also earmarked for accelerating customs reform, including by providing legal, regulatory, infrastructure, and e-customs support; creating a new customs monitoring center; and assisting in implementing reforms of the recruitment, selection, vetting, training, and equipping of new customs officers, based on the successful patrol police model.
The assistance will be provided to help fighting corruption through support for key justice sector reforms, including implementation of the constitutional amendments adopted by the Verkhovna Rada on June 2 and Prosecutor General Yuriy Lutsenko’s reform agenda, and by expanding our partnerships with the National Anti-Corruption Bureau, Specialized Anti-Corruption Prosecutor’s Office, and National Police, as well as support for independent media and civil society.
The United States intend to bolster extending decentralization across Ukraine, helping to improve service delivery, increase citizen engagement and oversight, and raise public awareness of the benefits of reforms.
It is planned to expand support for energy security through programs that establish competitive and transparent gas and electricity markets in line with EU standards, diversify sources of energy, improve energy efficiency, support privatization, and enhance cybersecurity.
According to the report, on June 9, the Overseas Private Investment Corporation (OPIC) approved up to $62.5 million in financial support to two private equity funds that will invest in Ukraine across a number of sectors including agribusiness, healthcare, infrastructure, retail, consumer goods, and real estate.
"The United States will continue to work closely with the Ukrainian Government to help ensure that the practical experience of U.S. industry is taken into account in Ukraine’s ongoing efforts to prioritize and implement reforms that will improve the business climate and attract private capital," says the report.
These initiatives and new commitments are part of more than $1.3 billion in foreign assistance the U.S. government has committed to Ukraine since 2014 to advance reforms in the country.
The U.S. government has also provided Ukraine $2 billion in loan guarantees, and signed an agreement on June 3 to allow for the issuance of a third, up to $1 billion loan guarantee in the coming months.
"These loan guarantees help Ukraine stabilize its economy and protect the most vulnerable households from the impact of needed economic adjustment," the White House said.