Ukrainian President Volodymyr Zelensky and UK Prime Minister Keir Starmer signed an agreement on Saturday to expedite a $2.8 billion (£2.26 billion) loan for Ukraine.
The loan will be funded through revenues from frozen Russian sovereign assets, according to UK Chancellor of the Exchequer Rachel Reeves. She emphasized that this move reflects the UK’s “unwavering and continued support for the Ukrainian people,” CNN reports.
Ukraine’s Finance Minister Serhiy Marchenko, who joined the meeting via video link, expressed deep gratitude for the “much-needed” financial aid.
The loan is in addition to the UK’s ongoing annual financial support of approximately $3.7 billion (£3 billion) for Ukraine, Reeves stated. She also highlighted the strong bipartisan backing for the agreement in the UK Parliament.
“These funds are about securing Ukraine’s territorial integrity,” Reeves said, adding that the financial support also strengthens “the security and future stability of all of Europe.”
