19 July, 2024
The flag of Ukraine and the United Kingdom. Photo from open sources
Ukraine and the UK sign a loan agreement to finance Ukraine’s defense needs.
The Ministry of Defense of Ukraine reported on this.
As part of the agreement, Ukraine will receive £2 billion in loans to help it strengthen its defense capabilities.
The funds will be used to purchase weapons, military equipment and other defense equipment in accordance with NATO standards.
The agreement was signed by the Minister of Defense of Ukraine Rustem Umierov and the Secretary of State for Defense of the United Kingdom John Healey.
“Under the terms of the framework agreement, the loan will be used for large-scale projects to develop Ukraine’s defense capabilities, which will reduce the burden on the state budget and allow us to obtain the necessary weapons to protect our country in the short term, primarily in the field of air defense,” said Rustem Umierov, Minister of Defense of Ukraine.
According to the agreement, the loan is granted for 15 years with an option to extend and at a favorable interest rate.
“This agreement is one of the key elements of our strategy to strengthen the country’s defense capabilities. We are grateful to our British partners for their support and are confident that this partnership will help us ensure security and peace in Ukraine,” Umierov added.
They also discussed the issue of control over the targeted use of loan funds, which will be carried out by a joint commission. It will include representatives of both governments to ensure transparency and efficient use of funds.
The loan funds will be used to purchase equipment and weapons and will not be used to pay for the weapons announced by the UK government.
Militarnyi previously reported that the UK would provide Ukraine with new barrels for AS-90 self-propelled howitzers as part of military aid.
Spare parts will also be provided to keep the tracked self-propelled howitzers in combat condition.
Also, as part of the new military aid package, the UK will provide Ukraine with 10 more AS-90 self-propelled howitzers.
