The United Kingdom has provided Ukraine with a loan of £752 million (approximately $991 million) for the purchase of military equipment. The order list includes air defense systems, artillery, and spare parts necessary for repairing equipment.
This is reported by Київ24
This loan, which will be repaid from the profits of frozen Russian sovereign assets in the European Union, is part of a broader agreement worth £2.26 billion made between London and Kyiv on March 1.
Funding will be provided in three phases. The first tranche was received on March 6, the second on April 14, and the third is expected in 2026. The British government notes that this funding structure allows Ukraine to manage resources and conduct military operations more effectively.
“We are strengthening our support for Ukraine to deter Russian aggression and bolster the national security of the United Kingdom,” said Defense Minister John Healey.
It is worth noting that on March 1, Ukraine’s Finance Minister Serhiy Marchenko and the UK Chancellor of the Exchequer Rachel Reeves signed an agreement to provide Ukraine with a loan totaling £2.26 billion (about three billion dollars). These funds are part of the Extraordinary Revenue Acceleration for Ukraine (ERA) mechanism from the G7 countries, which overall aims to allocate $50 billion.
The Extraordinary Revenue Acceleration (ERA) mechanism involves providing Ukraine with approximately $50 billion in the form of loans backed by profits from frozen Russian assets. These funds are aimed at supporting the budget, military expenditures, and the reconstruction of Ukraine’s infrastructure.