London
8 °C
Manchester
6 °C
Glasgow
Dublin
7 °C
Belfast
Washington
Denver
Atlanta
14 °C
Dallas
20 °C
Houston Texas
New Orleans
El Paso
23 °C
Phoenix
Los Angeles
11 °C
-19 °C
NYSE - LSE
US offers $1 bn in loan guarantees for Ukraine
The United States is offering up to $1 billion in credit guarantees to help Ukraine weather the threat of war against Russia, US Secretary of State Antony Blinken said Monday.
Blinken said the offer would bolster "Ukraine’s ability to ensure economic stability, growth, and prosperity for its people in the face of Russia’s destabilizing behavior."
The guarantees would make it far easier and likely cheaper for Ukraine's government to borrow money.
Ukraine is one of the poorest countries in Europe and its corruption-plagued economy has suffered from heightened tensions over the possibility of an invasion by Russia, which has sent over 100,000 troops.
US National Security Advisor Jake Sullivan briefed congressional leaders Monday on the plan, according to a source familiar with the matter.
On Sunday, Sullivan repeated the Biden administration's view that Russia could attack Ukraine "any day now."
In addition to economic and humanitarian aid, the United States has provided Ukraine with $650 million in military assistance over the past year.
On Monday, German Chancellor Olaf Scholz said on a visit to Kyiv that he was "determined" to maintain aid to the country.
G7 countries have also warned Moscow they are ready to impose sanctions that would have a huge and immediate impact on Russia's economy, should it pursue any further military aggression against Ukraine.
F. Burkhard--BTZ
