The United States could offer Ukraine a sovereign loan guarantee of up to $1 billion to help its economy weather the threat of war against Russia, the White House announced Monday.
The loan guarantee “is something that we are considering as part of the additional macro-economic support that we are exploring to help the Ukrainian economy in this pressure resulting from Russia’s military build-up,” the chief press officer told reporters. of the White House, Karine Jean-Pierre. Agence France-Presse (AFP).
On Monday, Secretary of State Antony Blinken appeared to confirm the offer.
“This offer … will strengthen Ukraine’s ability to deliver economic stability, growth and prosperity to its people in the face of Russia’s destabilizing behavior,” Blinken said in a statement, according to Reuters.
A strong partnership between Ukraine, the International Monetary Fund (IMF), other international financial bodies, the G-7 group of wealthy countries and other bilateral donors would also contribute to this effort, he added. .
Jean-Pierre did not give details on what steps he would take to approve US support, which, if materialized, would make it much easier and likely cheaper for the Ukrainian government to borrow money. .
Ukraine is one of Europe’s poorest countries and its corruption-ridden economy has suffered heightened tensions over the possibility of an invasion by Russia, which has sent more than 100,000 troops encroaching on three directions.
US National Security Advisor Jake Sullivan briefed congressional leaders on 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 assistance, the United States has provided Ukraine with $650 million in military assistance over the past year.
On Monday, German Chancellor Olaf Scholz said during a visit to Kyiv that he was “committed” to maintaining aid to the country.
The G-7 countries also warned Moscow that they were ready to impose sanctions that would have a huge and immediate impact on the Russian economy, if it continued any further military aggression against Ukraine.
Canada will also offer a loan of up to C$500 million ($393 million) to support Ukraine and has also said it will provide C$7.8 million in lethal equipment and ammunition.
“The purpose of this support from Canada and our other partners is to deter Russia from continuing its aggression against Ukraine,” Prime Minister Justin Trudeau told reporters on Monday.