On the recordMarch 6, 2014
I thank my friend, the gentlewoman from New York, for yielding me this time. Mr. Speaker, as the ranking member of the Foreign Affairs Committee, I rise in strong support of H.R. 4152, legislation that would provide the Government of Ukraine with urgently needed funds to address pressing needs at a critical moment. The Ukrainian people bravely confronted a brutal and corrupt regime and stood up for democracy and justice. They need our help now. This bill is a first step in answering their call. The bill authorizes the United States to provide repayment guarantees for bonds that the Ukrainian Government plans to issue to raise cash. These guarantees will make it easier for Ukraine to sell the bonds at the lowest possible price and at the longest term. Our guarantees would be backed up by reserves, using existing appropriated funds that the Congress provided for exactly this type of emergency. This bill is the initial contribution to sustaining Ukraine's new government as it seeks to restore stability and return Ukraine to political and economic health. It is part of a larger financial commitment from the EU and other states, and will also help Ukraine's efforts to reach agreement with the IMF and to implement needed reforms. Without this support, Ukraine's progress could stall in the face of unrelenting pressure from Russia, which has illegally occupied the Crimea, is encouraging separatism and conflict, and which has substantial leverage on the Ukrainian economy.…





