Ukraine and UK sign US$3bn defence loan agreement
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Sat, 01 Mar 2025 21:40:40 +0200
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Ukraine and the United Kingdom have signed a loan agreement worth about US3bn for Ukraines defence needs.
Source Ukraines Finance Ministry Quote Today, Ukraines Finance Minister Serhii Marchenko and the UKs Chancellor of the Exchequer Rachel Reeves signed an agreement to provide Ukraine 2.26bn around 3bn. The signing ceremony, which was held online, was attended by President of Ukraine Volodymyr Zelenskyy and Prime Minister of the United Kingdom Keir Starmer. The funds are part of the G7 Extraordinary Revenue Acceleration for Ukraine ERA mechanism worth US50 billion.
The loan will be serviced and repaid from future revenues received from immobilised Russian sovereign assets. The financing is provided for 30 years, and the attracted funds will be directed on purchasing defence equipment according to Ukraines needs.
Details The Ministry of Finance reiterates that Ukraine has already received US1bn from the US and 3bn from the EU under the Extraordinary Revenue Acceleration for Ukraine ERA mechanism of the G7 countries.
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