Ukraine raises $270 million from sale of war bonds to fund army
On February 23, 2022, Ukrainian soldiers were seen in Donetsk (Ukraine),
Wolfgang Schwan | Anadolu Agency | Getty Images
On Tuesday, the Ukrainian government released war bonds and claimed that it had raised about 8.14 billion Ukrainian Hryvnia ($270 Million).
A tweet from the finance ministry of the country stated that these bonds will yield 11% over a period of one years.
A day before, the ministry posted a tweet saying that the proceeds of bonds would be used to support the Armed Forces of Ukraine as well as to provide financial assistance to the country during wartime. The website of the ministry is unavailable at this time.
A bond’s nominal value is 1000 hryvnia ($33).
Also, the government issued bonds that had a two-month term and yielded 10%. This raised $7 million more.
According to the Wall Street Journal, dealers included Citigroup and Austria’s Raiffeisen Bank, as well as Budapest-based OTP Bank Nyrt.
CNBC reached out for comment to the banks.
Since the Russian invasion started last week, Ukraine’s military has largely held back Russian troops. Russia is slowing down in its attack on capital Kyiv as the country of smaller size has so far retained and protected key cities.
Analysts have been amazed by Ukraine’s resilience but many people still think Russia will win, given Moscow’s enormous military forces. In 2020 Ukraine’s military spendingIt reached $5.92 Billion, just a fraction Russia’s $61.71 billion spentAccording to World Bank data,
Ukraine has sought to raise fundsMultiple avenues are used to continue fighting and increase the odds of success. Russian convoy heads toward Kyiv.
Official Twitter account for the Ukrainian government posted addresses for two crypto walletsAccepting only bitcoin and the other taking ether and tether, a token that tracks the value of the U.S. dollar.
These wallets attracted $10.2million worth of crypto as of Sunday according to the website. research from blockchain analytics firm Elliptic. This is on top of everything. millions in digital currency donated to nongovernmental organizations supporting the Ukrainian military.
— CNBC’s Ryan Browne contributed to this report.