UK to provide $3bn loan guarantees to Ukraine over three years

UK to provide $3bn loan guarantees to Ukraine over three years

The United Kingdom will provide a $3 billion package of financial support to Ukraine to strengthen Ukraine's economic stability. The financial assistance includes World Bank loan guarantees.

The British government's website and Prime Minister of the United Kingdom, Rishi Sunak, announced this at the Ukraine Recovery Conference in London.

The funding will be used to support vital public services, including schools and hospitals.

The UK will also provide £250 million for the UK's Development Finance Institution. The funds will be used for mine clearance, disaster relief kits, reform programmes, and energy projects.

More than £127 million will be used to provide humanitarian support to people in the frontline regions.

At the Ukraine Recovery Conference, Sunak announced the launch of the Ukraine Business Compact initiative. More than 400 companies from 38 countries with a total annual revenue of over $1.6 trillion have pledged to support Ukraine's recovery and reconstruction.

Rishi Sunak also announced the launch of the UK-Ukraine Technology Bridge to facilitate investment, talent, and support for green energy.

The Ukraine Recovery Conference has started in London. More than 1,000 foreign officials from 61 countries, representatives of NGOs, business leaders, and entrepreneurs are taking part in the event.