Ukraine and Britain have signed an agreement for an emergency loan of £2.26 billion (approximately $3 billion) for the procurement of defense equipment.
This was reported by the Ministry of Finance of Ukraine.
As is known, Ukraine will receive funds under the G7 Extraordinary Revenue Acceleration for Ukraine (ERA) initiative. The repayment of the loan will be made from future revenues generated from frozen Russian assets. The financing is set for a duration of 30 years, and the funds raised will be directed towards acquiring defense equipment based on Ukraine's needs.
The signing ceremony, which took place online, was attended by the President of Ukraine, Volodymyr Zelensky, and the Prime Minister of the United Kingdom, Keir Starmer.
“Britain continues to stand in defense of Ukraine. Today’s agreement, which contributes to strengthening Ukraine's defense capabilities, is a testament to this. I am grateful to the British government for this support and to Rachel Reeves personally for the significant efforts that facilitated this agreement,” noted the Minister of Finance of Ukraine.
Recall that President Zelensky arrived in Britain on Saturday, March 1. There, the Ukrainian leader held a meeting with the Prime Minister of the United Kingdom, Keir Starmer.
Additionally, it is known that Starmer will host more than a dozen other European leaders in London on Sunday, March 2, to discuss the security guarantees that the continent can offer Ukraine.
Earlier, Starmer stated that Britain is ready to send its troops to Ukraine to ensure the implementation of a peace agreement.