Ukraine will receive a loan from the UK for £2.26B ($2.93B), secured by profits from the frozen assets of the Russian Federation. The funds will become additional funding (up to £3B in military aid per year) for purchasing required military equipment. It is noted that £2.26B is London’s contribution to the credit assistance program for Ukraine from the G7 countries, which agreed to provide Ukraine with $50B.
In turn, the European Parliament supported the European Commission’s proposal for a €35B loan to Ukraine with repayment from the revenues from frozen Russian assets. The final amount allocated by the EU may be lower, depending on the size of loans provided by other G7 partners. The funds will be disbursed in 2025.
“Such budgetary support will ensure military expenses, particularly for anti-aircraft defense, artillery, and other necessary equipment,” stressed the head of the Ukrainian government, Denys Shmyhal.
The G7 countries will finally announce their contributions in New York on October 25.