LONDON, April 12 (Reuters) - Britain is ready to provide
an extra $500 million of loan guarantees to Ukraine, taking the
total this year to $1 billion, British finance minister Jeremy
Hunt said on Wednesday.
Hunt said the British loan guarantees had been important to
underwrite a broader $15.6 billion four-year package of support
for Ukraine from the International Monetary Fund, whose Spring
Meetings he is attending in Washington.
"This funding will boost Ukraine's economic resilience and
bolster its resistance against Russia," he said in a statement.
The loan guarantee was first detailed in a written statement
to parliament last month.
Britain has now pledged a total of 6.5 billion pounds ($8.1
billion) of support for Ukraine since Russia's invasion in
February 2022, and the latest loan guarantees will help finance
Ukrainian public services such as schools and hospitals, the
finance ministry said.
Hunt also said he had finalised an extra $670 million for
the IMF's Poverty Reduction and Growth Trust, and $3.3 billion
for the IMF's Resilience and Sustainability Trust, which
supports energy projects and projects to combat climate change.
"Our support for other countries comes at a time when I am
deeply focussed on getting the UK's economy growing, and our
plan for that is working as we're on track to halve inflation
this year," he said.
On Tuesday the IMF upgraded its outlook for Britain's
economy but still expects British gross domestic product to
contract more this year than in any other major Western economy.
British inflation is expected to average 6.8% this year
according to the IMF, down from 9.1% in 2022 but above the 5.3%
projected for the euro zone.
($1 = 0.8012 pounds)
(Reporting by David Milliken; editing by William James)
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