Britain will join the EU's €90 billion loan for Ukraine, Prime Minister Keir Starmer announced Monday on the sidelines of a 'coalition of the willing' summit in Paris, where European Commission President Ursula von der Leyen finalised the deal with the British leader.
Under the agreement, UK firms will be eligible to bid for contracts financed by the instrument, with London contributing an amount proportionate to the value of contracts secured by British industry. The Commission has not disclosed the exact financial terms. London opened negotiations to participate at the European Political Community summit in Yerevan in May.
The loan is intended to cover Kyiv's most urgent defence and budgetary needs through 2027, with roughly two-thirds earmarked for military spending. Brussels disbursed €7.1 billion in June and expects a further defence tranche this week.