Money Talks: Obama Offers Ukraine Cash Loans for Cabinet Reshuffle

© REUTERS / Kevin LamarqueU.S. President Barack Obama and Ukraine's President Petro Poroshenko shake hands during the luncheon at the United Nations General Assembly in New York September 28, 2015
U.S. President Barack Obama and Ukraine's President Petro Poroshenko shake hands during the luncheon at the United Nations General Assembly in New York September 28, 2015 - Sputnik International
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US President Barack Obama met with his Ukrainian counterpart Petro Poroshenko on the sidelines of the Nuclear Security Summit in Washington DC, stressing that a new reform-oriented cabinet must be formed in Ukraine, a statement on the official website of the Ukrainian president says.

WASHINGTON (Sputnik) – The United States has provided Ukraine with two loan guarantees worth $2 billion and hundreds of millions in other assistance.

"Special attention was paid to the necessity of forming, as soon as possible, a reform-oriented coalition and government in Ukraine," the Friday statement said, adding that Obama confirmed that the United States is ready to provide Ukraine with $1 billion worth of loan guarantees once a new cabinet is formed in the country.

People walk by the entrance to US newspaper 'The New York Times' in New York - Sputnik International
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US Vice President Joe Biden told Poroshenko on Thursday that Washington welcomed Poroshenko’s efforts to form a stable, reform-oriented government, but emphasized the enactment "of needed reforms" would be critical to unlocking international economic assistance such as the $1 billion in US loan guarantees.

The vice president also informed Poroshenko that the United States was proceeding with its additional $335 million in security assistance to fund more advisors, training and non-lethal aid to Ukraine.

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