US passes bill to give loans to Kyiv
The Associated Press WASHINGTON (AP)—The U.S. Congress sent President Barack Obama a bill on Tuesday to provide $1 billion in loan guarantees to cash-poor Ukraine and punish Russia for its bold annexation of part of the former Soviet republic.
Russia’s incursion into Crimea caused a deep rift between Moscow and Washington and the bill, passed with bipartisan support, was a way for Congress to denounce Russia’s move and express support for Kyiv.
The House voted 378 to 34 for the bill, which also is aimed at discouraging any further actions that Russian President Vladimir Putin might be contemplating in the region.
White House press secretary Jay Carney said Obama welcomed congressional passage of the bill. He said it would help Ukraine regain economic and political footing and added that the administration supports the targeted sanctions authority provided in the legislation. “The president will continue to build support for the Ukrainian people at this critical time,” Carney said in a statement.
If Obama signs the bill into law as expected, the loan guarantees would help stabilize Ukraine’s economy. The bill authorizes $50 million to improve democratic governance and rule of law and fight corruption; support fair elections; and bolster civil society organizations.
The bill authorizes an additional $100 million to beef up security cooperation among the United States, European Union and countries in central and eastern Europe and further authorizes the president to provide defense help and additional security assistance to Ukraine and other countries in the region.