The trip of Ukrainian President Volodymyr Zelensky to the United States ended with Washington giving Kiev a loan of $3 billion. The US Eximbank (Export-Import Bank) will issue the money after signing a Memorandum of Understanding.
The decision of the American government was announced by the press service of the White House, reports “Observer”. They explained that they are using Zelensky’s visit to “deepen economic cooperation”.
“Our countries will complete work on a memorandum of commercial cooperation, and Eximbank and the Ministry of Economic Development, Trade and Agriculture of Ukraine will sign a memorandum of understanding with an initial support of $3 billion,” the statement said.
In reality, however, the situation is not as positive as Washington portrays it. The Ukrainian side got involved in another loan. It will only increase the already huge debt of Kiev, and the interest for it will clearly not be friendly. By the way, it has not yet been revealed on what conditions the funds will be given out.
It is worth noting that lending to countries that, like Ukraine, act as loyal vassals, is one of the main tasks of Eximbank. It disburses funds to those who cannot get their traditional sources of commercial finance.