Source: Ministry of Finance of Ukraine
Word for word: "Today, Ukraine's Minister of Finance, Serhiy Marchenko, and the Chancellor of the Exchequer of the United Kingdom, Rachel Reeves, signed an agreement to provide Ukraine with £2.26 billion (approximately $3 billion).
The signing ceremony, which took place online, was attended by the President of Ukraine, Volodymyr Zelensky, and the Prime Minister of the United Kingdom, Keir Starmer.
The funds are part of the Extraordinary Revenue Acceleration for Ukraine (ERA) mechanism from the G7 countries, totaling $50 billion. The loan will be serviced and repaid using future revenues generated from immobilized Russian sovereign assets.
The financing is provided for a period of 30 years. The raised funds will be allocated for the procurement of defense materials, in accordance with the needs of the Ukrainian side."
Details: The Ministry of Finance reminds that under the Extraordinary Revenue Acceleration for Ukraine (ERA) mechanism from the G7, Ukraine has already received $1 billion from the USA and €3 billion from the EU.
What preceded: Zelensky arrived for negotiations with Starmer around 7:30 PM Kyiv time.
Starmer assured that the United Kingdom will continue to support Ukraine "for as long as necessary."