Ukraine’s parliament approves defense loan agreement with UK

MPs Yaroslav Zhelezniak and Iryna Herashchenko reported the information.

“The Verkhovna Rada (Ukrainian parliament - Ed.) supported the ratification of the Framework Agreement between the governments of Ukraine and the United Kingdom on official credit support for the development of defense capabilities. The agreement involves a £2 billion loan for the defense sector and investments in security,” Herashchenko wrote.

The bill No. 0300 was supported by 281 MPs.

According to the Ministry of Defense, the framework agreement provides for a loan of £2 billion to finance Ukraine’s defense needs.

The purpose of the agreement is to ensure financial support to strengthen Ukraine’s defense capability, including the procurement of modern weaponry, military equipment, and other defense means in accordance with NATO standards.

• The Ministers of Defense of Ukraine and the United Kingdom, Rustem Umerov and John Healey, signed the agreement between the two governments on July 19, 2024, regarding official credit support for the development of Ukraine’s defense capabilities.