Britain will give Ukraine a further 10 billion pounds in economic and military support, the UK government announced in Wednesday’s Budget, calling it the largest package of financial backing it has ever given Kyiv.
The package includes 500 million pounds in additional military support for Ukraine’s air defences this winter. The government said this was in response to Russia’s continuing attacks on Ukraine’s critical infrastructure.
Prime Minister Andy Burnham and Chancellor John Healey told Ukrainian President Volodymyr Zelenskyy of the decision on Wednesday morning, saying the move was vital for collective security.
“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,” Burnham said.
Healey said: “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 package includes 7 billion pounds of economic support over three years. This covers up to 5.5 billion pounds in World Bank guarantees and a 500 million pound grant to the crisis facility of the World Bank’s International Development Association, which the government said would mobilise 1.5 billion pounds of support for Ukraine.
UK Export Finance’s capacity for Ukraine will also rise by 3 billion pounds, prioritised for military support, bringing its total to 6.5 billion pounds.
The government said the funding would help Ukraine defend itself, maintain economic stability and keep essential public services running through the winter.
The new money comes on top of the 3 billion pounds a year Britain has already committed to Ukraine “for as long as it takes”, and follows Zelenskyy’s visit to Downing Street earlier this month.
Including the latest package, Britain has committed a total of 35 billion pounds to Ukraine since Russia’s full-scale invasion. This comprises 16 billion pounds in military support, up to 12.6 billion pounds in non-military support and a 6.5 billion pound cover limit for export finance.
Britain co-chairs the Coalition of the Willing with France and Germany, which is leading efforts to secure Ukraine’s long-term security.
