House of Commons · Written Ministerial Statement
Contingent Liability Notification: Ukraine Guarantee
06 June 2022 · Foreign, Commonwealth and Development Office
Proposed by James Cleverly Con Braintree
Summarised by AI from the official record, so it can contain mistakes.
At a glance
Key points
- The Foreign, Commonwealth and Development Office is proposing to guarantee USD500 million or EUR-equivalent of additional World Bank financing to Ukraine.
- The UK will not incur this liability until 14 parliamentary sitting days after the statement's issuance.
- Objections raised during this period would require further examination.
Issue summary
The statement outlines a contingent liability notification for the Foreign, Commonwealth and Development Office (FCDO) regarding a guarantee for World Bank financing to Ukraine.
Action requested
The FCDO is proposing to guarantee USD500 million or EUR-equivalent of additional World Bank financing to Ukraine. The UK will refrain from incurring this liability until 14 parliamentary sitting days after the statement's issuance, unless there are objections raised during this period which would require further examination.
Key facts
- FCDO is guaranteeing USD500 million or EUR-equivalent (approximately EUR464 million or GBP396 million at current exchange rates) of World Bank financing to Ukraine.
- The UK announced the intention on April 9, 2022.
- The liability period will be up to 25 years.
- HM Treasury has approved the proposal in principle and the Public Accounts Committee has been notified.