Ukraine and UK Sign Framework Agreement for £2 Billion Defense Credit

The framework agreement includes a £2 billion credit to finance Ukraine's defense needs, as announced by the Ministry of Defense of Ukraine.

Signed on behalf of the governments of Ukraine and the United Kingdom, the bilateral document was endorsed by Defense Minister Rustem Umierov and Defense Minister John Gill.

The agreement aims to provide financial support to enhance Ukraine's defense capabilities, including the purchase of modern weaponry, military equipment, and other defense assets in accordance with NATO standards.

"Under the terms of the framework agreement, the credit will be used for large-scale projects aimed at developing Ukraine's defense capabilities, thereby reducing the burden on the State Budget and enabling us to acquire necessary armaments to protect our country, particularly in the field of air defense," stated Ukrainian Defense Minister Rustem Umierov.

The credit is provided for a term of 15 years with the possibility of extension and at a favorable interest rate.

"This agreement is a key component of our strategy to bolster the country's defense capabilities. We are grateful to our British partners for their support and confident that this partnership will help ensure security and peace in Ukraine," concluded Rustem Umierov.

The targeted use of credit funds will be monitored by a joint commission comprising representatives from both governments to ensure transparency and the efficient use of finances.