Commons Sense

House of Commons · Written Ministerial Statement

Contingent Liability Notification: Ukraine Guarantee

31 March 2022 · Foreign, Commonwealth and Development Office

Proposed by James Cleverly Con Braintree

EconomyForeign AffairsUkraine

Summarised by AI from the official record, so it can contain mistakes.

View on Parliament.uk

At a glance

Key points

  • The UK government plans to support Ukraine's economic stability through a contingent liability guarantee.
  • The FCDO proposes to guarantee up to USD450 million or EUR-equivalent (approximately GBP344 million) of World Bank financing to Ukraine.
  • Approval from HM Treasury and notification to the Public Accounts Committee are required for the guarantee, set to be ready by mid-April.

Issue summary

The statement addresses the UK government's plan to support Ukraine's economic stability through a contingent liability guarantee.

Action requested

The FCDO is proposing to guarantee up to USD450 million or EUR-equivalent (approximately GBP344 million) of World Bank financing to Ukraine, with approval from HM Treasury and notification to the Public Accounts Committee. The guarantee will be ready by mid-April to ensure rapid deployment of funds.

Key facts

  • FCDO is undertaking a contingent liability in excess of £300,000.
  • Guarantee amount: USD450 million or EUR-equivalent (approximately GBP344 million).
  • Loan from World Bank planned for mid-April.
  • Expected duration of liability: up to 25 years.
  • HM Treasury has approved the proposal in principle.
▸ Assessment & feedback
Summary accuracy