At the end of 2022, the UK is ready to provide Ukraine with an additional USD 525 million as guarantees for a World Bank loan.
This is stated in the message of the British government, Ukrainian News Agency reports.
"The Ukrainian Government fears it could run out of funding by the autumn unless it is given urgent financial help. To help with this pressing need the UK stands ready to provide another $525 million (or £429 million) in guarantees for World Bank lending later this year,” it was said.
This lending is covering costs like Ukrainian public sector wages, and the running of schools and hospitals.
It is noted that the UK only covers the cost of the loan if the Ukrainian Government is unable to pay.
“They are therefore both an investment in Ukraine’s strategic resilience and an expression of confidence in the country’s future,” the British government said.
These funds increase the total amount of UK support for Ukraine, including UK loan guarantees, to USD 1.5 billion, and total economic and humanitarian aid to USD 1.8 billion in 2022.
As Ukrainian News Agency earlier reported, in early June, British Prime Minister Boris Johnson announced that the country would transfer multiple launch rocket systems to Ukraine with a fire range of up to 80 km.
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