EU deal on Ukraine loan could boost UK if it agrees to help pay costs
A report from Theguardian says senior EU diplomats approved a €90bn loan for Ukraine that could benefit the UK if it agrees to help pay borrowing costs. British firms could have greater opportunities to supply defence equipment funded by the loan if the government agrees a 'fair' contribution towards EU borrowing costs.
The loan will be funded by borrowing on capital markets and secured against unused EU budget spending, with €60bn earmarked for defence and €30bn for general budget support. The EU has said it intends a European preference for suppliers but has included flexibility for Kyiv to buy from non-EU partners if critical kit is unavailable.
The updated proposal introduces clauses allowing purchases from non-EU countries that have security pacts with the EU, and one clause is aimed at the UK.
United Kingdom