Ukraine and UK sign US$3bn defence loan agreement
Pravda Ukraine
Ukraine and the United Kingdom have signed a loan agreement worth about US$3bn for Ukraine’s defence needs.
Source: Ukraine’s Finance Ministry
Quote: “Today, Ukraine’s Finance Minister Serhii Marchenko and the UK’s 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 US$50 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 Ukraine’s needs.”
Details: The Ministry of Finance reiterates that Ukraine has already received US$1bn 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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