UK to give Ukraine $525 million loan guarantees

The UK is ready to increase support for Ukraine by another £429 million or $525 million in loan guarantees from the World Bank. They will be provided before the end of this year, a statement of the office of British Prime Minister Boris Johnson reads.

“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,” the statement said.

Thus, the volume of economic and humanitarian assistance to Ukraine from the UK will grow to £1.5 billion ($1.8 billion). The economic share is £1.3 billion ($1.5 billion).

Earlier GMK Center reported that since the beginning of Russia’s war against Ukraine, international partners have already transferred $7.4 billion to cover the state budget deficit, and the total amount of declared financial assistance to Ukraine as of mid-June was $30 billion. Up to a third of these money are non-repayable grants.

EU will provide financial assistance to Ukraine for €9 billion until the end of 2022. Ukraine and Germany also signed an intergovernmental agreement on providing our country with €1 billion in grant funding.