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Appropriations Committee Introduces Ukrainian Aid Legislation

Washington, March 5, 2014

House Appropriations Chairman Hal Rogers, along with Appropriations Committee Ranking Member Nita Lowey, today introduced legislation to provide loan guarantees to the country of Ukraine to support the nation and its people during this tumultuous transition period (H.R. 4152).

“Ukraine is a friend and valued partner to the United States, and as partners, we assist when another is in need. This legislation will help the government of Ukraine restore economic stability, and show the world that America supports the Ukrainian people,” Chairman Rogers said.

The legislation modifies appropriations law to allow Ukraine to be eligible for U.S.-backed loan guarantees. This will allow the government of Ukraine to borrow funds to help provide critical services to the Ukrainian people while the country implements economic reforms. No new appropriations are needed for the U.S. to back these loans – funds will be provided within the existing budget of the State Department. The loan guarantees will cover the risk of losses if Ukraine defaults, and will send a positive signal to global financial markets.



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