The United Kingdom is set to extend a significant £10 billion in economic and military assistance, marking the largest financial aid package ever provided to Ukraine. This announcement was made by Prime Minister Andy Burnham and Chancellor John Healy during a conversation with President Zelenskyy earlier today. They underscored that this initiative is essential for our collective security.
This latest funding initiative reinforces the UK’s steadfast commitment to supporting Ukraine throughout its struggle and into the future, particularly as the nation prepares for the upcoming winter months. The comprehensive package aims to bolster Ukraine’s defensive capabilities while ensuring its economic stability and the continuity of crucial public services during the colder season.
Enhanced Military Support Amid Ongoing Conflict
In light of Russia’s persistent and reckless assaults on vital national infrastructure, the funding includes an additional £500 million dedicated specifically to enhancing Ukraine’s air defences this winter. This package builds upon the already established commitment of £3 billion annually from the UK, which is pledged for as long as necessary, and follows President Zelenskyy’s visit to Downing Street earlier this month.
Prime Minister Burnham remarked, “When I said we would step up our support for Ukraine, I meant it. This is the largest ever package of funding for Ukraine from the UK and it should leave no one in any doubt of our unflinching backing for as long as it takes. From the front lines to the negotiating table, the UK will stand shoulder-to-shoulder with the Ukrainian people as they continue their brave and courageous fight to defend our collective security.”
Commitment to Ukraine’s Sovereignty and Economic Stability
Chancellor John Healy added, “This new package of support will help Ukraine to defend their people and their nation as they fight with huge courage – civilians and military alike. In this fifth year of Putin’s illegal war, my message to him is clear – our commitment to Ukraine’s sovereignty and defence remains unshakeable.”
The £10 billion package encompasses £7 billion allocated for economic support over a three-year period, which includes up to £5.5 billion in guarantees from the World Bank and a £500 million grant to the World Bank International Development Association’s crisis facility, thereby mobilising £1.5 billion in support for Ukraine. Additionally, there will be a £3 billion increase in capacity from UK Export Finance (UKEF), specifically prioritising military assistance, raising the total UKEF support to £6.5 billion.
A Pioneering Partnership for Long-Term Security
The UK has emerged as one of Ukraine’s principal allies since the onset of Russia’s full-scale invasion, providing a comprehensive range of military, economic, and diplomatic support, all grounded in the longstanding partnership between the two nations. This collaboration includes leading joint efforts to secure Ukraine’s long-term security alongside France and Germany as co-chairs of the Coalition of the Willing.
With the announcement made today, the UK’s total commitment to Ukraine now stands at £35 billion, comprising: £16 billion in military support (including the £2.26 billion Extraordinary Revenue Acceleration Loan), up to £12.6 billion in non-military aid (encompassing bilateral assistance and fiscal guarantees), and a £6.5 billion cover limit for export finance support aimed at reconstruction and defence projects.
Further Information
For additional information, please contact the HMT Press Office at 020 7270 5238 or via email at pressoffice@hmtreasury.gov.uk.
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