EU has approved UK’s participation in €90 billion loan for Ukraine
The countries of the European Union have approved the participation of the United Kingdom in providing aid to Ukraine as part of a €90 billion loan.
This was reported by the Council of the EU, according to Censor.NET, which cites Interfax-Ukraine.
What is known
"The EU’s solidarity with Ukraine is a key priority of the Irish Presidency. Today’s approval reflects the shared commitment of the EU and the UK to supporting Ukraine (...). The UK’s participation in the loan to support Ukraine will also enable Kyiv to procure products from British defence manufacturers (...)", said Helen McEntee, Ireland’s Minister for Foreign Affairs and Trade, who currently holds the EU Council presidency.
The Council reiterated that the EU framework agreement, worth 90 billion euros, is intended to help Ukraine meet its "most urgent needs in 2026 and 2027". The loan provides Ukraine with €60 billion for investment in defence industrial capabilities, including the procurement of defence equipment; €30 billion is provided in the form of direct economic and budgetary support.
It is noted that Ukraine will now be able to procure products from a wider range of defence manufacturers. The EU countries’ approval followed the London Contribution Agreement, signed between the EU and the UK on 13 July.
"The UK’s participation in the loan was made possible by the fact that the country meets the three conditions for third-country participation set out in the regulations on loans in support of Ukraine. The UK has committed to making a fair and proportionate financial contribution towards the costs associated with the borrowing; has concluded a security and defence partnership agreement with the Union; and is already providing significant financial and military support to Ukraine," reads the EU Council communiqué.
It is also reported that, in the coming days, the Council will formally approve, in writing, the United Kingdom’s participation in the loan. The decision will take effect on the same day it is published in the EU’s Official Journal.
What led up to it
It was previously reported that former British Prime Minister Keir Starmer had announced the conclusion of an agreement with the EU, which gives British defence companies access to contracts to support Ukraine.
