WIREDGOV

The Chancellor has announced a new package of over £10bn in economic and military support for Ukraine.

Supporting Ukraine

• Russia’s illegal invasion of Ukraine poses a serious threat to UK prosperity and security. We are proud to be a leading partner in providing vital support to Ukraine
• Yesterday the Chancellor announced that we are making available over £10 billion of additional financial support to Ukraine, underlining the UK’s position as a leading partner amidst illegal Russian attacks. As part of this package, we are making available £7 billion of economic support over three years, including:
  • Up to £5.5 billion of World Bank guarantees
  • A £0.5 billion grant contribution to the World Bank International Development Association’s crisis facility, mobilising £1.5 billion of support for Ukraine
• This package also includes £0.5 billion in additional military support for Ukraine’s air defences this winter - together with £750 million already committed from the UK’s Extraordinary Revenue Acceleration loan to Ukraine, this takes UK military support provided this year to Ukraine to £4.3 billion. This is in addition to the UK’s commitment to provide £3 billion military support to Ukraine until at least 2030-31 or for as long as it takes
• Alongside this, the package includes a £3 billion increase in UK Export Finance capacity for Ukraine, prioritised for military support, bringing total UKEF cover to £6.5 billion
• Including yesterday’s announcement, the UK has committed a total of £35 billion for Ukraine:
  • £16 billion in military support (including our £2.26 billion Extraordinary Revenue Acceleration (ERA) Loan contribution)
  • up to £12.6 billion in non-military support (including bilateral assistance and fiscal guarantees)
  • £6.5 billion cover limit for export finance support (via UK Export Finance for reconstruction and defence projects)