Great Britain will provide Ukraine with credit guarantees of $500 million

14.04.2023 0 By NS.Writer

Since the beginning of the Russian invasion, London has provided Kyiv with credit support of $8,1 billion, he writes golosameriki.com.

Prime Minister of Great Britain Risha Sunak

Great Britain is ready to provide Ukraine with an additional 500 million dollars in the form of credit guarantees, bringing the total amount of lending this year to 1 billion dollars, British Finance Minister Jeremy Hunt said on Wednesday.

Hunt said that British credit guarantees were important to ensure a broader four-year support package for Ukraine in the amount of 15,6 billion dollars from the International Monetary Fund.

"This financing will increase the economic stability of Ukraine and strengthen its resistance to Russia," Hunt said in a statement.

After the Russian invasion, Great Britain promised to provide credit support to Ukraine in the amount of 6,5 billion pounds (8,1 billion dollars). The current credit guarantees will help finance Ukrainian state services, including the work of schools and hospitals, the Ministry of Finance said in a statement.

Hunt also said that he allocated an additional 670 million dollars as part of the IMF's efforts to reduce poverty and growth and 3,3 billion dollars for the IMF's project to support energy projects and combat climate change.

"Our support for other countries comes at a time when I am deeply focused on keeping the UK economy growing and our plan is working: we are on track to halve inflation this year," he said.

On Tuesday, the IMF raised its forecast for the growth of the British economy, expecting that the British gross domestic product will shrink this year more than in any other major Western economy.

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