Ukraine has agreed with the United Kingdom on a loan of GBP 2 billion to finance defense needs.
The Ministry of Defense has said this in a statement, the Ukrainian News agency reports.
"The framework agreement, in particular, provides for the provision of a loan in the amount of GBP 2 billion to finance the defense needs of Ukraine," the message reads.
On behalf of the governments of Ukraine and the UK, the bilateral document was signed by the Ukrainian Minister of Defense Rustem Umierov and the UK Secretary of State for Defence John Healey.
It is noted that the purpose of the agreement is to provide financial support for strengthening Ukraine's defense capabilities, which includes the purchase of modern weapons, military equipment and other means of defense in accordance with NATO standards.
"Under the terms of the framework agreement, the loan will be used for large-scale projects to develop Ukraine's defense capabilities, which 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, primarily in the field of air defense," Umierov noted.
The Ministry of Defense notes that the loan is granted for 15 years with the possibility of extension and at a favorable interest rate.
Control over the targeted use of loan funds will be carried out by a joint commission, which will include representatives of both governments, to ensure transparency and efficient use of finances.
As the Ukrainian News agency earlier reported, on July 18-19, President Volodymyr Zelenskyy is visiting the UK, on July 18 he took part in the summit of the European Political Community and signed two security agreements with the Czech Republic and Slovenia.
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