14:27 26.10.2015

U.S. intends to provide Ukraine with third $1 bln loan guarantee - Secretary of Commerce Pritzker

2 min read
U.S. intends to provide Ukraine with third $1 bln loan guarantee - Secretary of Commerce Pritzker

U.S. Secretary of Commerce Penny Pritzker has said that her country's leadership intends to provide a third loan guarantee for $1 billion to Ukraine.

Speaking after a meeting with Ukraine's President Petro Poroshenko in Kyiv on Monday, Pritzker announced that the U.S. president and the Congress intend to take steps with respect to the third credit guarantees for $1 billion to Ukraine in the coming months, and that Washington will fulfill its promise to consider the possibility of providing such a loan guarantee which was made at the end of 2015.

Pritzker said she discussed what the credit guarantee would be used for with Poroshenko. She also intends to discuss the issue with Prime Minister Arseniy Yatseniuk.

Pritzker added that Poroshenko is responsible for the solution of many problems, starting from relations with Russia and the events in the east of Ukraine to the reform of the judicial and law enforcement systems in the country. However, she assured Poroshenko that the United States will continue to support Ukraine.

"The administration has a strong commitment to assist Ukraine regardless of the situation in the region," the U.S. official said.

Poroshenko thanked Pritzker for American support for Ukraine and said that cooperation between the two countries should be expanded.

"We want to expand our cooperation," Poroshenko said.

According to Pritzker, her visit to Ukraine is mostly commercial. However, representatives of six major U.S. companies, including Cargill A.t., Westinghouse Electric, Citibank, and DuPont came with her.

Poroshenko then informed Pritzker of the upcoming transparent privatization in Ukraine.

"I was pleased to hear that American investors and the administration are interested in raising the level of U.S. investors and American investments in the economy of our state," the president said.

He also noted that the parties agreed to coordinate the solution of problematic issues such as VAT refunds to all companies without exception, as well as the protection of intellectual property rights.

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