This funding will increase Ukraine’s economic stability and increase its resistance against Russia, Jeremy Hunt said.
The UK is ready to provide Ukraine with an additional $500 million in loan guarantees, bringing the total to $1 billion this year, British Finance Minister Jeremy Hunt said, Reuters reported on Thursday, April 13.
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Hunt said the British loan guarantees were essential to the signing of a wider $15.6 billion four-year IMF support package for Ukraine.
“This financing will increase Ukraine’s economic stability and strengthen its resistance against Russia,” he said during the IMF’s spring meeting in Washington.
So far, the UK has pledged support to Ukraine worth £6.5bn ($8.1bn) since the Russian invasion in February 2022. The latest loan guarantees will help finance public services in Ukraine such as schools and hospital, the Ministry of Finance said.
Hunt also said he finished work on an additional $670 million for the IMF’s Poverty Reduction and Growth Trust and $3.3 billion for the IMF’s Resilience and Stability Trust, which supports energy and climate change projects.
It will be remembered that in December 2022 it became known that Britain will give Ukraine $500 million through the World Bank.
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Source: korrespondent
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.