UK injects $100M into Ukraine's economy
(MENAFN- Caribbean News Global)
By Caribbean News Global
LONDON, England – Prime Minister Boris Johnson commences a week of focussed engagement with world leaders to mobilise the global outcry at the atrocities of Russian aggression into practical and sustained support for Ukraine.
On Monday he will work with leaders from Canada and the Netherlands to continue to champion the international response for Ukraine. They will also visit a RAF base to meet members of the UK Armed Forces. The three prime ministers will convene for separate bilateral meetings and a joint trilateral meeting. There will also be a joint press conference at the Downing Street Briefing Room, the prime minister's office, 10 Downing Street announced.
“This comes as the UK allocates an additional $100 million directly to the Ukrainian government budget to mitigate financial pressures created by Russia's unprovoked and illegal invasion. This grant could be used to support public sector salaries, allowing critical state functions to keep operating, as well as to support social safety nets and pensions for the Ukrainian people. The grant will be provided through the World Bank.”
Prime minister Boris Johnson, said:
“In the time since Russia's illegal and brutal assault we have seen the world stand up tall in solidarity with the indomitable people of Ukraine.
UK aid is already reaching those who need it most, delivering essential supplies and medical support. While only Putin can fully end the suffering in Ukraine, today's new funding will continue to help those facing the deteriorating humanitarian situation.”
The new UK $100 million funding comes on top of the UK training 22,000 soldiers, supplying 2,000 anti-tank missiles, providing £100 million for economic reform and energy independence, and providing £120 million of humanitarian aid including £25 million of match funding to the Disasters Emergency Committee (DEC) appeal.
“This follows our offer to guarantee up to $500 million of Multilateral Development Bank financing. This will unlock further funding in support of the Ukrainian economy. The UK is proving this support through a World Bank Multi-Donor Trust Fund established this week to support the Ukrainian government,” 10 Downing Street, added.“The government urges other donors to pool their resources in this Trust Fund to ensure efficient and rapid support to the government and people of Ukraine.”
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