The law approved by Congress to grant a one billion dollar loan to Ukraine is only a loan guarantee and will not even dent Ukraine’s huge debts, 25 billion of which must be paid this year, William Engdahl, a geopolitical analyst, told RT.

The bill will also give more power to American NGO’s to promote democracy in Ukraine, many of the same NGOs that helped create the current instability in Kiev. This is the last thing Ukraine needs at the moment, says Engdahl.

RT: Washington is offering Ukraine a one billion dollar loan. Is it a good deal for Ukraine?

William Engdahl: If you look at the details of what they’re offering, they’re not offering a loan of even one billion dollars. They are offering a loan guarantee and the cost of that loan guarantee is that Ukraine submits to IMF austerity like Greece did, and that will simply open up their economy to the final rape and plunder from the West.

But the other point about this is that the debt of Ukraine that comes due this year is a staggering amount. I believe it is some 25 billion dollars that has to be rolled over. And a one billion dollar loan guarantee… it’s hard to know who is more stupid in this piece of legislation: the United States congressmen, who voted for this, or the non-elected government of Ukraine, if they accept this – because it is simply a no brainer on all sides.

RT: Also the bill gives more power to America’s co-called “democracy promoting” NGOs. Are these the same NGOs that reportedly helped topple the democratically elected government there in Ukraine a few weeks ago?

WE: Of course, they are. They are the National Endowment for Democracy (NED), Freedom House, no doubt, the Open Society Foundations of George Soros, who always seems to be paired up with these organizations. John McCain is the chairman of the NED’s International Republican Institute.He has been on the front row of every regime stabilization in recent years. So these are not democracy promoting NGOs, these are coup d’état NGOs, who are doing what the CIA used to do, only through private agencies that are backed up by the US government.

This is not anything good for Ukraine. Ukraine doesn’t need this nonsense. It’s interference in the domestic affairs of a sovereign country. But since when has Washington or at least the Congress been concerned about that?

RT: So, if they are not going to promote democracy, how exactly are their NGOs going to influence political life in Ukraine?

WE: Well, as you pointed out, the NGOs prepared the way for the last several years, well before the decision not to join the EU confederation agreement taken by Viktor Yanukovich’s government last November. They had been preparing to oust the Moscow-leaning Yanukovich, a fairly elected presidentof Ukraine, and create the incident using canvas operatives from Belgrade financed by US taxpayers money, to train activists assembled in Maidan Square and create the movement that shapes exactly what the government will or will not be able to do.

And to do more of that for Ukraine… I think Ukraine needs a little break from all of this.