- Created on Sunday, 08 June 2014 12:57
- Written by White House
Washington, DC - The United States is committed to supporting Ukraine's democratic reforms, economic development, and sovereignty and territorial integrity. Following Ukrainian President Petro Poroshenko’s discussions with President Obama on June 4 in Warsaw, Vice President Joe Biden announced on June 7 an additional $48 million in assistance to help the Ukrainian Government conduct key reforms, build law enforcement capacity, and strengthen national unity.
Pending consultation with the U.S. Congress, this assistance will follow the $1 billion loan guarantee signed on April 14, a $50 million crisis-response package announced by Vice President Biden on April 21, and $23 million in security assistance announced to date. When added to previously budgeted funds, the United States is providing over $184 million in assistance to Ukraine this year in addition to the loan guarantee.
The United States' $48 million assistance package will:
- Support Ukraine's efforts to carry out the reforms needed to make its IMF and World Bank programs a success and place the country on a path towards economic growth.
- Assist with constitutional reforms, decentralization, and confidence-building measures that enhance national unity, particularly in the East and South.
- Strengthen Ukraine's State Border Guard Service.
- Bolster efforts of the government, civil society, and the private sector to fight corruption.
- Help Ukraine diversify its trade and enhance its energy security.
This package will build upon previously announced U.S. assistance tailored to help Ukraine through this crisis.
- The $1 billion U.S. loan guarantee has enabled the Ukrainian Government to access affordable financing from international capital markets. This is strengthening its ability to protect its most economically vulnerable citizens from the impact of necessary economic adjustments, such as by supporting expansion of the social safety net.
- The $50 million crisis-response package is geared to helping Ukraine stabilize its economy, conduct democratic elections, combat corruption, and recover stolen assets.
- $23 million in U.S. security assistance provides equipment and materiel for the Ukrainian Border Guard personnel and Armed Forces.
- The United States also has contributed funding and personnel to the OSCE Special Monitoring Mission working to reduce tensions, provide neutral and accurate reporting on the situation on the ground, and foster peace, stability, and security.
These targeted activities complement long-term U.S. assistance programs designed to support systemic reforms and build institutional capacity across a range of sectors.