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US Concludes $1Bln Loan Guarantee to Ukraine - Commerce Secretary

© Sputnik / Evgenia Novozhenina / Go to the mediabankMonument of Independence of Ukraine on Independence Square in Kiev
Monument of Independence of Ukraine on Independence Square in Kiev - Sputnik International
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The United States has completed the issuance of a $1 billion loan guarantee to Ukraine that is intended to support the country’s anti-corruption measures and economic reforms, US Secretary of Commerce Penny Pritzker announced.

WASHINGTON (Sputnik) — Washington and Kiev signed the guarantee agreement in June.

"Issuance of this loan guarantee demonstrates Ukraine’s commitment to the implementation of critical economic and anti-corruption reforms and will help Ukraine accelerate and deepen these efforts," Pritzker stated on Wednesday.

Cities of the world. Kiev - Sputnik International
US Backs Ukraine’s Efforts Toward Economic Transparency, Fairness
Pritzker said Ukrainian authorities have made progress in implementing their reform agenda, which includes battling corruption, increasing transparency and improving the country’s business climate.

"Yet even with this progress, we all know that there is far more to do," she said.

Ukraine's economy has deteriorated since an armed conflict between government forces and militias in the country's southeast escalated in April 2014.

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