"Ukraine's Finance Minister Serhiy Marchenko and UK Chancellor of the Exchequer Rachel Reeves have signed an agreement to provide Ukraine with £2.26 billion (approximately $3 billion). The signing ceremony, which took place online, was attended by Ukraine's President Volodymyr Zelensky and the Prime Minister of the United Kingdom."
The Ukrainian ministry noted that the funds are part of the Extraordinary Revenue Acceleration for Ukraine (ERA) mechanism established by the G7 countries, totaling $50 billion.
"The loan will be serviced and repaid using future profits generated from immobilized Russian sovereign assets. The financing is provided for a period of 30 years. The raised funds will be allocated for the purchase of defense materials according to the needs of the Ukrainian side," the Ministry of Finance explained.
Commenting on the agreement, Marchenko emphasized that it reaffirms the statement that "the United Kingdom continues to stand in defense of Ukraine."
The Ministry of Finance reminded that under the ERA mechanism of the G7, Ukraine has already received $1 billion from the United States and €3 billion from the European Union.