UK joins EU's EUR 90 bln aid programme for Ukraine
UK Prime Minister Keir Starmer has announced a deal that will give British defence companies access to contracts funded by the EU's EUR 90 billion (GBP 78 billion) loan initiative to Ukraine.
“Arriving in Paris for a meeting of the Coalition of the Willing, Prime Minister Keir Starmer has today announced a landmark agreement that will give UK defence firms access to contracts funded through the EU's GBP 78 billion (EUR 90 billion) Ukraine Support Loan initiative,” reads a message posted on the UK government website published on Monday.
The agreement follows the successful conclusion of negotiations between the UK and the EU, first announced at the European Political Community Summit in Armenia in May.
Through the scheme, UK defence companies will be eligible to bid for procurement contracts funded by the loan, unlocking billions in potential investment, supporting skilled jobs across the country and strengthening the UK’s world-leading defence industrial base. The UK’s contribution to the initiative will be proportionate to the value of contracts secured by British industry, the British government noted.
“Working alongside our European allies, we are stepping up support for Ukraine and stepping up pressure on Russia. Together, we are sending a clear message: we will stand united against Russian aggression and continue to defend the security of Europe,” Starmer commented.
European Commission President Ursula von der Leyen noted in a post on the social media platform X that this agreement will provide Ukraine with access to a wider range of defense suppliers. “So, Ukraine can get what they need on the battlefield.”
The UK will make a fair and proportionate contribution to the costs of borrowing, in line with the value of contracts awarded to UK companies.
The European Union and the United Kingdom jointly recognise the agreement as a demonstration of their shared commitment to Ukraine and the closely interconnected and interdependent nature of the Union and UK defence industrial bases.