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The UK government will provide Ukraine with a 10-year loan worth up to £ 1.25 billion to modernize shipbuilding and strengthen port defenses.
The UK will provide a loan to re-equip the Ukrainian Naval Forces with modern missile ships that are compatible with NATO standards and can meet the need for ships of this class in the Black and Azov seas. This was announced on October 8 by the press service of Ukrainian President Volodymyr Zelensky.
“The UK government will provide a 10-year loan of up to £ 1.25 billion. Ukraine will be able to watch and learn during the construction of the first ships in Britain in parallel with the modernization of its own shipbuilding, ensuring the construction of the next ships already in Ukraine. The funds will also go towards the construction of port infrastructure for the ship base in Ochakov, Mykolaiv region. This agreement will help strengthen Ukraine’s defense capacity at sea and increase security in southern Ukraine, “the statement said.
Earlier, the British government press service reported that the British export credit agency UKEF will start supporting the export of goods from the UK to the Ukrainian market. In particular, It will provide loan guarantees of up to £ 2.5 billion for commercial contracts between the UK and Ukraine.
Ukraine and the United Kingdom signed an agreement on political cooperation, free trade and strategic partnership on October 8, which Zelensky called historic. The treaty is intended to replace the EU-Ukraine Trade Association Agreement with the UK after the end of the Brexit transition period.
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