Ukrainian President Volodymyr Zelensky and UK Prime Minister Keir Starmer signed an agreement on Saturday to accelerate $2.8 billion (2.26 billion pounds) worth of loans to Ukraine.
The loan will be paid off by revenues from frozen sovereign Russian assets, the UK’s Chancellor of the Exchequer Rachel Reeves said. The agreement is part of the UK’s “unwavering and ongoing support for Ukrainian people,” Reeves said.
Ukraine’s Minister of Finance Serhiy Marchenko, who joined the meeting remotely via video link, said Ukraine was “so grateful” for the “very necessary” agreement.
The loans are in addition to the UK’s ongoing funding of about $3.7 billion (3 billion pounds) per year to Ukraine, Reeves said.
Reeves added that she was struck by the “cross-party support” for the agreement while bringing it through Parliament.
“This money is about helping to secure the territorial integrity of Ukraine,” Reeves said, adding that the funds also reinforce “the security and posterity of all of Europe.”
Ukrainian President Volodymyr Zelensky thanked the United Kingdom for its unwavering support when he met with Prime Minister Keir Starmer at Downing Street on Saturday.
“I saw a lot of people and I want to thank you, people of the UK, (for) such big support from the very beginning of this war,” Zelensky said while sitting next to Starmer.
“And I’m very happy that his majesty, the King, accepted my meeting tomorrow and thankful that you organized such great summit for tomorrow and we are very happy in Ukraine that we have such strategic partners,” he added.
Starmer told Zelensky that Ukraine has “full backing across the UK” and reiterated his country’s commitment to support Ukraine for “as long as it will take.”
“You’re very, very welcome here in Downing Street. And as you’ve heard from cheers on street outside, you have full backing across the UK. We stand with you, with Ukraine for as long as it will take,” Starmer said.
Starmer said the UK is determined to stand with Ukraine to achieve their common goal, which is “a lasting peace for Ukraine based on sovereignty and security.”
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