Ukrainian Defense Minister Rustem Umerov and his British counterpart John Healey have signed a bilateral agreement on military aid. The agreement involves a loan worth two £billion pounds to finance Ukraine’s defense needs.
The agreement confirms financial support from the UK for strengthening Ukraine’s defense capabilities, including the purchase of modern weapons, military equipment, and other defense equipment in accordance with NATO standards.
“According to the framework agreement, the loan will be used for implementing large-scale initiatives aimed at enhancing Ukraine’s defense capabilities. It will reduce the burden on the state budget and allow in the short term to obtain the necessary weapons for the defense of our state, first of all, in the field of air defense,” said Rustem Umerov.
The loan is granted for 15 years with the possibility of extension and at a favorable interest rate, the Ukrainian Defense Ministry specified.
“This agreement is one of the key elements of our strategy to strengthen the country’s defense capabilities. We are grateful to the British partners for their support and are sure that this partnership will help us in ensuring security and peace in Ukraine,” stated Rustem Umerov following the signing of the deal.
A joint panel comprising officials of both governments would oversee the targeted use of the loan to ensure transparency and effective use of funds.
Earlier, on a visit to Odesa less than 48 hours after his appointment, Healey pledged to step up British support for Ukraine and announced a new aid package.
UK’s defense secretary announces new military aid package for Ukraine
It includes more artillery guns, a quarter of a million ammunition rounds, and nearly 100 precision Brimstone missiles.
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