EU ambassadors have agreed to the UK's participation in a €90 billion loan program for Ukraine
On July 22, European Union ambassadors approved the United Kingdom’s participation in the mechanisms of the European financial support program for Ukraine, worth 90 billion euros. The decision allows Ukraine to use the loan proceeds to purchase defense products from British manufacturers.
According to “European Truth,” citing the EU Council’s press service, the decision follows an agreement on the UK’s participation in the program, which the EU and the United Kingdom signed on July 13.
The UK’s participation expands the range of manufacturers from whom Ukraine can purchase defense products using funds from the European loan. Previously, the framework covered EU countries, member states of the European Economic Area and the European Free Trade Association, as well as a specific list of third countries.
The Council of the EU explained that the United Kingdom meets the three criteria for third countries: it has committed to making a “fair and proportionate” financial contribution, has a defense and security partnership with the EU, and is already providing significant support to Ukraine.
Of the total loan amount, 60 billion euros are earmarked for investments in military needs, specifically defense procurement. Another 30 billion euros are to be directed toward direct economic and budgetary support for Ukraine. Final approval of the UK’s participation by the EU Council is expected in the coming days via a written procedure.
