: Biden tells Poroshenko USD 1 bln in loan guarantees will be given to Ukraine soon

10:05 May. 14, 2016

Biden tells Poroshenko USD 1 bln in loan guarantees will be given to Ukraine soon

Ukrain's President Petro Poroshenko and US Vice-President Joe Biden meet on the sideline of the World Economic Forum in Davos, Switzerland, Wednesday, Jan. 20, 2016 (AP Photo)

The financial guarantees are part of the bailout plan developed by the international community in 2014 for Ukraine 

U.S. Vice President Joe Biden and Ukrainian President Petro Poroshenko have agreed to sign a deal on USD 1 billion worth of loan guarantees for Ukraine soon, according to the presidential administration.

"The parties have agreed to sign the bilateral agreement on the provision of the third tranche of loan guarantees in the amount of USD 1 billion to Ukraine soon," the press service gave details of a telephone conversation between Poroshenko and Biden on Friday, May 13.

Read also U.S. pledges Ukraine additional USD 335 million in security aid

Poroshenko also informed on measures aimed at improving the public finance system and the business climate in Ukraine.

The president said he was hopeful that the results of reforms in Ukraine would intensify support for the country by the United States, the International Monetary Fund (IMF) and other international partners of Ukraine.

As UNIAN reported, U.S. President Barack Obama confirmed at the Nuclear Security Summit in Washington, D.C. early in April 2016 that his country was ready to provide the third billion tranche of the loan guarantees after the formation of a new government in Ukraine.

The financial guarantees are part of the bailout plan developed by the international community in 2014 for Ukraine after the Revolution of Dignity. The conditions for the disbursement include not only political decisions but also further interaction with the IMF as the country's key lender.

Reporting by UNIAN

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