Britain promises to allocate $3.8 billion annually to support Ukraine
31 October 2024 08:21
British Finance Minister Rachel Reeves has said that the United Kingdom will allocate more money for defense needs, including military support for Ukraine. This was reported by Reuters, according to "Komersant Ukrainian"
The head of the British Ministry of Finance emphasized that defense funding will be increased to reach the target of 2.5% of GDP.
“I am announcing an overall increase in the Ministry of Defense budget for next year, enabling the United Kingdom to exceed our NATO commitments and provide military support to Ukraine of £3 billion ($3.8 billion – ed.) a year,” Reeves said.
The official noted that annual military support for Ukraine will be maintained in addition to the loan under the G7 agreement on the use of frozen Russian assets.
She added that the promise to continue annual military support for Ukraine came in addition to the £2.26 billion loan, which is part of the G7’s Emergency Funds Acceleration Agreement announced last week to help the country in its war against Russia.
The British government emphasized that it will help Ukraine “for as long as it takes.”
