During the meeting of the President of Ukraine Volodymyr Zelenskyi and the Prime Minister of Great Britain Keir Starmer on March 1 in London, an agreement was signed to provide a loan to Ukraine in the amount of £2.26 billion. About this reported Ministry of Finance of Ukraine.
The document was signed by the Minister of Finance of Ukraine, Serhiy Marchenko, and the Chancellor of the Exchequer, Rachel Reeves. The ceremony took place in an online format with the participation of Zelenskyi and Starmer.
As the Ministry of Finance notes, these funds are part of the Extraordinary Revenue Acceleration for Ukraine (ERA) mechanism introduced by the G7 countries, which generally provides for financing in the amount of $50 billion.
The loan was granted for 30 years, and it will be repaid from future revenues from frozen Russian state assets. The funds received will be used for the purchase of defense equipment in accordance with Ukraine’s needs.
Minister of Finance Serhiy Marchenko emphasized that the signing of the agreement testifies to the UK’s steadfast support for Ukraine. He also reminded that within the framework of the ERA mechanism, Ukraine has already received $1 billion from the United States and €3 billion from the European Union.
