UK delivers second loan tranche to Ukraine under G7 program
The United Kingdom has disbursed the second tranche of a loan to Ukraine, amounting to £752 million (equivalent to €875 million), under the G7’s Extraordinary Revenue Acceleration Loans for Ukraine (ERA) program.
The announcement was made by the British government on Monday, April 14.
According to the document, this payment is part of a larger loan of £2.26 billion (equivalent to €2.63 billion), which will be repaid from unexpected revenues generated from frozen Russian state assets in the European Union. The agreement was signed on March 1 by UK Finance Minister Rachel Reeves and Ukrainian Finance Minister Serhiy Marchenko, as reported by DW.
"This funding will help Ukraine acquire essential military equipment, including emergency air defense systems. The support comes at a critical time, as Russia continues its air offensive against Ukraine, striking the city of Sumy," according to the British government’s statement.
The UK government notes that the funds for supporting and maintaining the acquired equipment will primarily be spent in the UK, thus contributing to economic growth and the creation of specialized jobs.
"A strong Ukraine is vital to the United Kingdom's national security, and this second tranche of funding will help Ukraine adopt a stronger stance and contribute to our collective security," said UK Treasury Chief Rachel Reeves.
Under the G7 Extraordinary Revenue Acceleration Loan scheme, member countries plan to collectively allocate $50 billion in support of Ukraine.
The British loan of £2.26 billion is divided into three tranches. The first was transferred to Ukraine on March 6, and the final tranche is expected to be delivered in 2026.
Translation by Iurie Tataru
