UK to provide £2bn loan support for Ukraine's defence industry: agreement signed
The United Kingdom and Ukraine have signed an intergovernmental agreement regarding official loan support for the development of Ukrainian defence capabilities.
Source: the document has been signed in the presence of President Volodymyr Zelenskyy by Ukraine's Defence Minister Rustem Umierov and UK Defence Secretary John Healey, as reported by the Ukrainian President's Office
Details: The agreement will reportedly allow the launch of Ukraine-UK projects. These include the supply, repair, and partial production of air defence systems, armoured vehicles, and ammunition.
"The agreement stipulates that UK suppliers can enter into loan agreements and contracts with Ukraine amounting to £2 billion, with the possibility of increasing this amount in the future," the President's Office noted.
As a result, by 2026, Ukraine's defence forces are expected to receive air defence systems, radar and surveillance equipment and to acquire technology for and partially master the production of barrels, spare parts, and components for artillery systems and Western-style armoured vehicles.
"Due to the urgent need for rapid capability development and the high costs of defence projects, Ukraine is currently unable to finance them from its state budget. The loan repayment period is 15 years," the President's Office explained.
Support UP or become our patron!
