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Contingent Liability Notification: Ukraine Guarantee
31 March 2022
Type
Written Ministerial Statement
Department
Foreign, Commonwealth and Development Office
At a Glance
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.
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