The United Kingdom signed an agreement with Kyiv on March 1 to provide Ukraine with a loan worth 2.26 billion pounds ($2.84 billion) backed by frozen Russian assets.
The loan, which is part of the Group of Seven’s (G7) Extraordinary Revenue Acceleration (ERA) credit initiative, was signed amid President Volodymyr Zelensky’s visit to London to meet with U.K. Prime Minister Keir Starmer.
“The United Kingdom continues to stand in defense of Ukraine. Today’s agreement, which contributes to strengthening Ukraine’s defense capabilities, confirms this,” Ukraine’s Finance Minister Serhii Marchenko said in a statement.
The loan will go towards “purchasing defense equipment according to Ukraine’s needs,” the Finance Ministry said.
In October 2024, G7 countries came to an agreement that pledged to provide Ukraine with almost $50 billion loan. (Kyiv Independent)
