WASHINGTON (dpa-AFX) - The UK Government has sent a 752 million pounds payment to Ukraine through the Extraordinary Revenue Acceleration Loans for Ukraine scheme.
The funding will support Ukraine to procure vital military equipment, including urgently needed air defense, as Russia continues its air assault on Ukraine.
The loan, which will be paid for through the profits of sanctioned Russian sovereign assets in the European Union, forms part of a wider 2.26 billion pounds loan agreed between the the two countries in March.
'A strong Ukraine is vital to UK national security and this second tranche of funding will help put them in the strongest possible position, and contribute towards our collective security,' said Rachel Reeves, Chancellor of the Exchequer.
'This new tranche of funds is part of our £4.5 billion of military support this year - more than ever before - and will be used to buy urgently needed air defense, artillery, and parts to help repair vehicles and equipment to get them back into the fight,' said Defense Secretary John Healey.
Monday's payment forms the second part of the UK's 2.26 billion pound loan, which has been spaced into three separate tranches to give Ukraine more flexibility and allow them to swiftly adapt to the ever-changing battlefield. The first payment was made on March 6, with the final payment to follow in 2026.
The multi-billion payment forms part of the UK's contribution to the Extraordinary Revenue Acceleration Loans for Ukraine scheme, which is a G7 commitment to collectively support Ukraine through a total of $50 billion.
UK had announced £450 million surge in military support for Ukraine last week. Further funding is being provided by Norway, via the UK-led International Fund for Ukraine.
In addition to providing financial support, UK's Ministry of Defense will also support Ukraine to procure the equipment needed to fight Russia's attacks. This will include a new 'close fight' military aid package - with funding for radar systems, anti-tank mines and hundreds of thousands of drones - worth more than 250 million pounds.
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