UK to provide Ukraine with credit support for defense production

Ukrainian Defense Minister Rustem Umerov and British Defense Secretary John Healey have signed an intergovernmental agreement on official credit support for the development of Ukraine's defense capabilities.

The document was signed in the presence of Ukrainian President Volodymyr Zelensky, Ukrinform reports, citing the Office of the President of Ukraine.

The agreement will help launch Ukrainian-British projects in the field of defense capabilities. In particular, it concerns the supply and adjustment of repairs and partial production of air defense systems, armored vehicles and ammunition.

Video: Volodymyr Zelensky / Telegram

The agreement provides that British suppliers will be able to conclude GBP 2 billion worth of credit agreements and contracts with Ukraine.

"This amount is not final and could be increased in the future," the Office of the President said.

Thanks to the agreement, it will be possible to provide the Ukrainian Defense Forces with air defense systems, radar and attack equipment by 2026. It will also be possible to obtain technologies and master the partial production of barrels, spare parts and components for artillery systems, Western armored vehicles, etc.

"Given the need for the rapid development of capabilities and the high cost of defense projects, Ukraine cannot currently finance them from its state budget," the Office of the President said.

According to the statement, the loan repayment period is 15 years.

On July 19, Ukrainian President Volodymyr Zelensky met with British Prime Minister Keir Starmer at 10 Downing Street.

Photo: president.gov.ua