Irina Nesterova22:17, 01.03.25

On March 1, the Minister of Finance of Ukraine and the Chancellor of the Exchequer of Great Britain signed a corresponding agreement.

Britain is providing Ukraine with a loan of 2.26 billion pounds sterling, or about 3 billion US dollars, for defense needs.

On March 1, Ukrainian Finance Minister Serhiy Marchenko and UK Chancellor of the Exchequer Rachel Reeves signed a corresponding agreement, the Ukrainian Finance Ministry reported .

It is noted that the signing ceremony took place online. It was attended by Ukrainian President Volodymyr Zelensky and British Prime Minister Keir Starmer.

The Ministry of Finance explained that the funds are part of the Extraordinary Revenue Acceleration for Ukraine (ERA) mechanism of the G7 countries, with a total volume of 50 billion US dollars.

“The loan will be serviced and repaid using future income received from the immobilized Russian sovereign assets,” the statement said.

The agency emphasized that the funding is provided for 30 years, and the funds raised will be used to purchase defense materials in accordance with Ukraine’s needs.

The Ministry of Finance recalled that within the framework of the Extraordinary Revenue Acceleration for Ukraine (ERA) mechanism of the G7 countries, Ukraine has already received 1 billion dollars from the US and 3 billion euros from the EU.

(c)UNIAN 2024