Ukraine Prepares to Auction War Bonds to Raise Funds for Military
Ukraine is preparing to issue war bonds in an effort to fund its armed forces against the escalating invasion by the Russian military.
The government of Ukraine is going to raise money for its army via the sale of war bonds, in an effort to beef up the country’s military against the Russian invasion. Kyiv is looking to raise up to $1.36 billion by selling the bonds to international investors, with the auction slated to commence on Tuesday. The bonds will be denominated in the local hryvinia currency, and their rate of return is said to be revealed at the time of the auction.
“In the time of military aggression of the Russian Federation, the ministry of finance offers citizens, businesses and foreign investors to support the budget of Ukraine by investing in military government bonds,” said the country’s finance ministry in a twitter post.
Ukraine has already received support from Germany, which has promised to provide the Ukrainian military with 1,000 anti-tank weapons and another 500 Stinger anti-aircraft defence systems. Likewise, the EU has earmarked $502 million on weapons and military equipment in support of Ukraine’s fight against Russian advancement.
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