UK TO PAY £2.26 BILLION FOR G7 LOAN TO UKRAINE- Rachel Reeves says the one-off loan would be released in tranches.
The UK will lend Ukraine 2.26 billion pounds as part of a much larger planned loan from the Group of Seven nations backed by frozen Russian central bank assets to help buy weapons and rebuild damaged infrastructure.
The Minister of Defence, John Healey said the money donated by the UK would be used solely for Ukraine’s military and to help develop drones capable of travelling further than some long-range missiles.
Healey said the use of the UK’s share of the G7 loan had been discussed between Ukraine President Volodymyr Zelenskiy and Prime Minister Keir Starmer in talks in London and G7 defence ministers in Italy over the weekend.
The UK’s contribution is in addition to the 12.8 billion pounds it has already committed in support to Ukraine.
The Chancellor, Rachel Reeves says the one-off loan would be released in tranches.
