The UK is ready to provide $500 million in additional funds in UK-guaranteed loans to Ukraine, plus an additional $670 million in new loan funding for developing nations, Chancellor of the Exchequer Jeremy Hunt announced during the International Monetary Fund’s Spring Meetings in Washington DC on Thursday.
Hunt confirmed that the UK stands ready to provide an additional $500 million in UK-guaranteed loans for Ukraine, taking this year’s total to $1 billion and the total amount pledged by the UK to support Ukraine to £6.5 billion.
“The $1 billion of budget support we have committed to Ukraine this year will ensure that the country has the financing to keep the lights on, hospitals running and schools open. According to the government’s latest press release, this, alongside UK military support, will help defeat Putin,” said Hunt.
Before this announcement, the UK committed £2.3 billion in military assistance to Ukraine and pledged to match that amount in 2023, which was topped up by Thursday’s announcement.
The UK is also hosting a training programme – supported by several allies – to train 30,000 new and existing Ukrainian personnel by the end of 2023.
The chancellor also committed $670 million to reduce poverty and drive growth in developing countries, building on the work of the International Monetary Fund’s (IMF) Poverty Reduction and Growth Trust.
“Our support for other countries comes at a time when I am deeply focused on getting the UK’s economy growing, and our plan for that is working as we’re on track to halve inflation this year,” said Hunt.
(Sofia Stuart Leeson | EURACTIV.com)
Source: euractiv.com
