Ukraine set to receive additional £429m from UK in guarantees for World Bank loans | United Kingdom | New

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Prime Minister Boris Johnson will tell G7 leaders that any sign of fatigue or wavering in Western support for Ukraine will play directly into President Putin’s hands. During his second visit to Kyiv since the outbreak of war last week, the Prime Minister spoke with President Zelensky about the urgent needs of the Ukrainian government.

This includes military support, the opening of roads out of the country blocked by the Russian military, and urgent financial support to enable the Ukrainian state to function.

The Ukrainian government fears it will run out of funds by the fall if it does not receive emergency financial aid.

To meet this pressing need, the UK is ready to provide an additional $525m (or £429m) in guarantees for World Bank loans later this year.

The new support announced today brings the total amount of budget support, including UK loan guarantees, to £1.3bn ($1.5bn) and combined UK economic and humanitarian support to Ukraine at £1.5 billion ($1.8 billion) this year.

The new support announced today brings the total amount of budget support, including UK loan guarantees, to £1.3bn ($1.5bn) and combined UK economic and humanitarian support to Ukraine at £1.5 billion ($1.8 billion) this year.

After his speech, the Prime Minister will take advantage of an intervention at the summit to rally support for Ukraine.

He will encourage all G7 countries to support Ukraine in the long term, building on the important pledges already made since February.

The Prime Minister said: “Future generations will be impressed and inspired by Ukraine’s truly heroic resistance to Putin’s barbarity.

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“Ukraine can and will win. But they need our support to do so. Now is not the time to give up on Ukraine.

“The UK will continue to support Ukraine every step of the way because we know their security is our security and their freedom is our freedom.”

Any signs of fatigue or wavering in Western support for Ukraine will play directly into President Putin’s hands, the prime minister told world leaders this week at the first in-person gathering of G7 leaders since the invasion in large scale of Ukraine by Putin.

The first weeks and months of the Ukrainian resistance were characterized by overwhelming global unity and a huge outpouring of support for the Ukrainian people.

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UK loan guarantees play an important role in reducing Ukraine’s financing gap, allowing multilateral development banks like the World Bank to lend far more than they otherwise could to the Ukrainian government.

These loans cover costs such as Ukrainian public sector salaries and the operation of schools and hospitals.

UK loan guarantees play an important role in reducing Ukraine’s financing gap, allowing multilateral development banks like the World Bank to lend far more than they otherwise could to the Ukrainian government.

These loans cover costs such as Ukrainian public sector salaries and the operation of schools and hospitals.

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