"The UK could reap greater benefits from a 90bn (78bn) EU loan for Ukraine, if it agrees to help pay the cost of borrowing, after European countries signed off long-awaited financial aid for Kyiv. British firms could have greater opportunities to supply defence equipment to Ukraine funded by the loan, if the government agrees a fair contribution towards EU borrowing costs."
"The loan is a crucial lifeline for Ukraine, which has been enduring months of brutal Russian attacks damaging its energy and heating systems, leaving people in the cold and dark, while the country is in the grip of a bitterly cold winter. EU leaders last year agreed to lend Ukraine the money to fill a critical funding gap in 2026 and 2027, as Kyiv risks running out of money to fund its defence, pay public servants and pensions."
EU diplomats approved a 90bn EU loan for Ukraine that includes a new opening toward the UK if the UK agrees to contribute to borrowing costs. British firms could supply defence equipment funded by the loan, contingent on a fair UK contribution and an agreed procurement list. The UK clause and requirement for a British financial contribution were agreed by Monday, but member states need further talks on inclusion and eligible products. The loan will be raised on capital markets, secured against unused EU budget spending, and allocates 60bn for defence and 30bn for general budget support.
Read at www.theguardian.com
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