UK Announces 2.26 Billion Pound Loan to Bolster Ukraine’s Defense CapabilitiesLondon, 2 Mar (ONA) — The UK government announced a 2.26 billion
pound loan to Ukraine to bolster its defense capabilities, on the
sidelines of British Prime Minister Keir Starmer’s meeting with
Ukrainian President Volodymyr Zelenskyy in London.

British Chancellor Rachel Reeves and Ukrainian Finance Minister
Sergii Marchenko signed the formal loan agreement, with the first
tranche of funding expected to reach Kyiv later next week.

The loan will be paid back using profits generated on
sanctioned Russian sovereign assets.

Announcing the package of support, Reeves said a “safe and secure
Ukraine is a safe and secure United Kingdom”.

This funding will bolster Ukraine’s armed forces and will put
Ukraine in the strongest possible position at a critical juncture in
the war. The funding, which will be delivered in three equal annual
payments of 752 million pound, comes on top of the 3 billion pound a
year commitment by the UK to provide military aid for Ukraine.

It follows Starmer’s announcement last week that the UK will
boost its own defense spending to 2.5% of GDP by 2027, up from 2.3%.— Ends/Khalid