Ukraine will receive a loan of 2.26 billion pounds (about $2.93 billion) from the UK at the expense of proceeds from Russia’s frozen assets.
This is reported by the British government’s website.
The new £2.26 billion is the UK’s contribution to the G7 loan programme for Ukraine, under which $50 billion from the G7 countries will be provided to Ukraine for military, budgetary and reconstruction needs.
The loan will be repaid from the proceeds of frozen Russian assets.
‘The UK loan of £2.26 billion is intended to provide budgetary support for Ukraine’s military expenditure, enabling the Ukrainians to invest in key equipment to support their efforts against Russia, such as air defence, artillery and wider technical support. This aid is in addition to the existing £3 billion a year of military assistance to Ukraine that the Prime Minister confirmed in his first week in office.’