War Bonds explained: How and why Ukraine is using them in the war against Russia

Ukraine is selling war bonds to finance it's army as Russia continues attack and has raised upto $270 million on Wednesday. War bonds are essentially a loan to the government to help fund a war. They are are a form of investment issued by governments in times of conflict that can finance military efforts

Ukraine’s government said: “The proceeds from the bonds will be used to meet the needs of the Armed Forces of Ukraine and to ensure the uninterrupted provision of the state’s financial needs under the war"

The war bonds are one of a number of crowdfunding measures by Ukraine to raise money. The army has also been getting support from crypto backers as funding via cryptocurrency made its way to war torn Ukraine.

War Bonds however are not a new concept, “If You Can’t Enlist, Invest. Buy A Liberty Bond” and “Defend Your Country With Your Dollars” were common slogans as the US raised funds during the World War but they were called 'Liberty Bonds' then.