"During the visit of President of Ukraine Volodymyr Zelenskyy to the United States, a Memorandum of Understanding was signed between the Ministry of Economy of Ukraine and the Export-Import Bank of the United States of America. From Ukraine, the document was signed on August 30. 2021 in Washington by First Deputy Prime Minister, Minister of Economy Oleksiy Lyubchenko, and from the Bank – Acting President James Burrows".
The document is targeted at strengthening economic cooperation between Ukraine and the United States on trade in goods and services. In particular, it is planned that the Ministry of Economy and Eximbank will work out options for using medium-term and long-term guarantees, as well as direct loans from Eximbank to finance U.S. exports to Ukraine totaling $3 billion.
At the same time, the bank has no restrictions on concluding financing agreements, which allows in the future to consider financing beyond $3 billion.
"We hope we will be able to implement projects for a total amount that will be much more than the specified $3 billion. It is important for us to strategically develop cooperation with the Eximbank of the U.S., turn it into one of the pillars of Ukraine's transformation, and strengthen our cooperation with EU financial institutions and international financial institutions. We hope partners from the United States will provide reliable financial support for such cooperation," the Deputy Prime Minister stressed.
According to Oleksiy Lyubchenko, during the preparation for the signing, a number of joint consultations were held, where a set of projects on security and economic transformation of Ukraine, as well as decarbonization and implementation of infrastructure projects, was considered. "We have seen that the U.S. authorities fully support this scenario of Ukraine's development and are interested in developing ambitious projects with the participation of American companies in Ukraine,"
In turn, American bankers reaffirmed their readiness to continue active cooperation and expressed confidence that the signing of the Memorandum would form the base for the implementation of ambitious projects and contribute to shaping much stronger economic ties between the two countries.