The United Kingdom guarantees to cover a $525 million loan for Ukraine from the World Bank

The United Kingdom guarantees to cover a $525 million loan for Ukraine from the World Bank

If the loan cannot be repaid, the UK will cover the cost of the loan

The United Kingdom guarantees to cover a $525 million loan for Ukraine from the World Bank

What happened? The United Kingdom is ready to provide Ukraine with guarantee for coverage of a $525 million World Bank loan later this year.

Source. This was reported by the press service of the British government.

Details. The loan from Britain should cover costs like Ukrainian public sector wages, and the running of schools and hospitals. If the loan cannot be repaid by Ukraine, the UK will cover the cost of the loan.

The loan from Britain should cover the cost of public sector wages, as well as the maintenance of schools and hospitals.

“The UK only covers the cost of the loan if the Ukrainian Government is unable to pay. They are therefore both an investment in Ukraine’s strategic resilience and an expression of confidence in the country’s future,” the statement reads.

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