UK announces £10 billion package for Ukraine, its largest ever

The UK will give Ukraine a further £10 billion of economic and military support, the largest package of financial backing it has ever given the country, the government announced alongside today's Budget.

Prime Minister Andy Burnham and Chancellor John Healey told President Zelenskyy of the decision this morning, describing the move as vital for collective security.

Help for the winter

The package comes as Ukraine heads into winter. The government says it will help Ukraine defend itself, keep its economy stable and ensure essential public services keep running through the coming months.

In response to Russia's continued attacks on Ukraine's critical national infrastructure, it includes £500 million of extra military support for Ukraine's air defences this winter.

The money is on top of the £3 billion a year the UK has already committed to Ukraine, and follows President Zelenskyy's visit to Downing Street earlier this month.

What the £10 billion includes

Some £7 billion is economic support, made available over three years. That includes up to £5.5 billion of World Bank guarantees and a £500 million grant to the crisis facility of the World Bank's International Development Association, which the government says will mobilise £1.5 billion of support for Ukraine.

There will also be a £3 billion increase in UK Export Finance capacity for Ukraine, prioritised for military support. That brings total UK Export Finance support for the country to £6.5 billion.

"Shoulder-to-shoulder"

"When I said we would step up our support for Ukraine, I meant it," the Prime Minister said. "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."

"From the front lines to the negotiating table, the UK will stand shoulder-to-shoulder with the Ukrainian people as they continue their brave and courageous fight to defend our collective security," he added.

The Chancellor said: "This new package of support will help Ukraine to defend their people and their nation as they fight with huge courage - civilians and military alike."

£35 billion in total

Including today's announcement, the UK has committed a total of £35 billion to Ukraine: £16 billion in military support, up to £12.6 billion in non-military support such as bilateral assistance and fiscal guarantees, and a £6.5 billion cover limit for export finance through UK Export Finance, for reconstruction and defence projects.

The UK has been one of Ukraine's foremost partners since Russia's full-scale invasion, and the two countries' relationship is underpinned by a 100 Year Partnership. The UK is also leading efforts to secure Ukraine's long-term security alongside France and Germany, as co-chairs of the Coalition of the Willing.

For the many Ukrainian families who have made their homes in Birmingham since 2022, today's announcement will be welcome news ahead of a hard winter.