The UK Allocates $500 Mln Credit Guarantees for Ukraine

by Meifan Honcharuk
Thursday, April 13, 2023
The UK Allocates $500 Mln Credit Guarantees for Ukraine

On April 12, during the "Spring meeting" in Washington, British FM Jeremy Hunt announced a new package of economic support

As part of the meeting of the International Monetary Fund in Washington, Jeremy Hunt announced that the UK is ready to provide Ukraine with another $500 million in credit guarantees. Thus, the total aid to the UK since the start of the full-scale attack on Ukraine amounts to almost $1 billion. 

"This funding will boost Ukraine's economic resilience and bolster its resistance against Russia," Jeremy Hunt.

These funds will be used to support the social sector: schools, hospitals, etc. According to minister Hunt, thanks to the credit guarantees of the UK, it was possible to expand the joint efforts of the IMF by providing the Ukrainian program with $15.6 billion.

Most importantly, the UK is currently working on mitigating inflation in its own country.

"Our support for other countries comes at a time when I am deeply focussed on getting the UK's economy growing, and our plan for that is working as we're on track to halve inflation this year," minister Hunt.

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