Ukraine will receive its first tranche of credit from the United Kingdom as early as next week. The total amount of the agreement signed between the two countries is £2.26 billion (approximately $3 billion). This was reported on Saturday, March 1, on the
website of the UK government. The loan will be distributed in three equal annual payments of £752 million each. This is in addition to the already committed £3 billion in annual military aid to Ukraine from Britain. The funds will be allocated for military purchases to strengthen Ukraine's defense capabilities. The UK Chancellor of the Exchequer, Rachel Reeves, stated that this support is strategically important: "A secure and protected Ukraine means a secure and protected United Kingdom. This funding will bolster the Ukrainian Armed Forces and position Ukraine as strongly as possible in critical times." The funds are being allocated through the international mechanism Extraordinary Revenue Acceleration for Ukraine (ERA), adopted by the G7 countries with a total fund of $50 billion. The loan will be serviced through future revenues from frozen Russian sovereign assets.
Starmer confirmed "full support" for Ukraine