UK Support to Financing of Recovery from Economic Emergency in Ukraine (FREE Ukraine)
Description
The Russian invasion of Ukraine has led to a large and growing financing gap, with Ukraine unable to source affordable finance from domestic or international capital markets and revenue sources drying up. Ukraine urgently needs fiscal support to enable the Government to pay salaries, pensions, maintain safety nets and keep key state functions and essential services operating, with the poorest and most vulnerable Ukrainians most at risk. The UK will provide fiscal support to the Government of Ukraine through a £74m grant to a World Bank Multi-Donor Trust Fund and up to $450m in guarantees enabling more World Bank lending to Ukraine. This will provide important financial support to Ukraine.. Outcomes of the financing will reflect a reduced financing gap for the Ukrainian Government, the maintenance of essential payments (e.g. pensions and state salaries) and services, and limiting the extent of market concerns.
Location
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Status Implementation
The current stage of the Programme, consistent with the International Aid Transparency Initiative's (IATI) classifications.
Programme Spend
Programme budget and spend to date, as per the amounts loaded in financial system(s), and for which procurement has been finalised.
Participating Organisation(s)
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Extending: Organisation that manages the budget on behalf of the funding organisation.
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Implementing: Organisations implementing the activity.
- Accountable
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Sectors
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Budget
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