Debts: Ukraine

(asked on 24th March 2022) - View Source

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what discussions officials in his Department have had with counterparts in allied nations on cancelling Ukraine's national debt.


Answered by
John Glen Portrait
John Glen
Paymaster General and Minister for the Cabinet Office
This question was answered on 29th March 2022

The UK continues to engage with counterparts in allied nations, including G7 partners and International Financial Institutions, on progressing current and future support to Ukraine.

Alongside our allies, we’ve hit Russia with the most severe package of sanctions it has ever seen. Our economic and humanitarian support to Ukraine also now totals around £400 million. This includes a £220 million package of aid, making the UK a leading bilateral humanitarian donor; a £100 million grant to support Ukraine’s energy and security reforms, primarily delivered through World Bank programmes; and a $100 million budgetary support grant, which contributed to a package agreed on 8 March of over $700 million for direct fiscal support to Ukraine via the World Bank, to help mitigate direct economic impacts. The UK also agreed to guarantee up to $500 million of lending by multilateral development banks operating in the region, with at least $450 million being earmarked to scale up World Bank lending, which will enable them to significantly scale up their financial support offer to Ukraine.

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