LONDON (Reuters) – Britain is ready to guarantee up to $500 million (367.62 million pounds) in loans to support Ukraine and help mitigate the economic effects of Russian aggression, the foreign office said on Wednesday.

Britain is offering guarantees of Multilateral Development Bank lending for projects that will support economic stability and reforms such as tackling anti-corruption, it said.

“We are putting our money where our mouth is and using Britain’s economic expertise and strength to support the people of Ukraine. These guarantees can help inject vital capital into Ukraine and help its economy weather the storm of Russian aggression,” Foreign Secretary Liz Truss said in a statement.

(1 British pound = $1.3601)

(Reporting by William James, Writing by Kylie MacLellan)