Ukraine Government Secures 333.6 Billion Won by Issuing War Bonds
![Volodymyr Zelensky, President of Ukraine [Photo by Reuters Yonhap News]](http://www.asiae.co.kr/news/img_view.htm?img=2022030211291863358_1646188158.jpeg)
[Asia Economy Reporter Park Byung-hee] On the 1st (local time), the Ukrainian government issued 'War Bonds' and raised 8.1 billion hryvnias (approximately 333.6 billion KRW), Bloomberg reported on the same day. The agency explained that the Ukrainian government attracted the largest amount of investment ever amid Russia's invasion. Investors lent large sums of money to support the Ukrainian military fighting against Russia.
The Ukrainian government stated that the funds raised would be used to procure necessary supplies for the Ukrainian military and to finance the government's war efforts. The government also said it paid bond interest amounting to 300 million USD due on the day and pledged to fulfill its obligations to foreign investors who invested in Ukraine despite the war situation.
The bonds issued on this day have a maturity of one year and do not pay coupon interest.
A Ukrainian government official said that the government is also considering other funding options such as issuing dollar or euro bonds and is negotiating financial support with the World Bank and the International Monetary Fund (IMF). The official added that they have received many inquiries about how to provide financial support.
The Ukrainian government also disclosed detailed information about cryptocurrency addresses to enable support via cryptocurrencies such as Bitcoin. Additionally, the Ukrainian central bank established a special account last week to support Ukraine.
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UK blockchain analysis firm Elliptic estimated that about 17 million USD has been raised through the Ukrainian government's cryptocurrency addresses and the special account set up by the central bank. Elliptic added that the total fundraising amount, including donations from non-governmental organizations (NGOs) supporting military aid, reaches 24.6 million USD.
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