The UK government announced a 2.26 billion pound loan to Ukraine to bolster its defense capabilities, on the sidelines of British Prime Minister Keir Starmer's meeting with Ukrainian President Volodymyr Zelenskyy in London.British Chancellor Rachel Reeves and Ukrainian Finance Minister Sergii Marchenko signed the formal loan agreement, with the first tranche of funding expected to reach Kyiv later next week.The loan and will be paid back using profits generated on sanctioned Russian sovereign assets.Announcing the package of support, Reeves said a ‘safe and secure Ukraine is a safe and secure United Kingdom’.’This funding will bolster Ukraines armed forces and will put Ukraine in the strongest possible position at a critical juncture in the war.’The funding, which will be delivered in three equal annual payments of 752 million pound, comes on top of the 3 billion pound a year commitment by the UK to provide military aid for Ukraine.It follows Starmers announcement last week that the UK will boost its own defense spending to 2.5% of GDP by 2027, up from 2.3%.
