Key facts
- The UK committed 290 million pounds ($382 million) in support for Ukraine.
- Funding will target energy infrastructure and anti-corruption efforts.
- The announcement was made ahead of the Ukraine Recovery Conference in Poland.
- A significant portion of the funds will support new wind farms and SME loans.
- The UK will provide nuclear fuel to Ukraine's national power company Energoatom through Urenco.
The United Kingdom has announced a significant support package for Ukraine, committing 290 million pounds (approximately $382 million) ahead of the Ukraine Recovery Conference. The aid is primarily designated for bolstering Ukraine's energy infrastructure and strengthening anti-corruption efforts, crucial areas as the country prepares for the winter months and future reconstruction.
This announcement follows a recent call for 650 million euros ($740 million) to safeguard Ukraine's energy systems against anticipated Russian attacks during the winter. U.K. Foreign Minister Yvette Cooper emphasized the necessity of sustained support for Ukraine's immediate needs during the conflict and its long-term rebuilding efforts.
The package includes two main funding pledges: 65 million pounds ($85 million) to co-finance the development of two new wind farms and to extend loans to small and medium-sized enterprises. Additionally, a 210 million-pound ($276 million) agreement with Urenco, a U.K.-based company, will supply nuclear fuel to Ukraine's national power company, Energoatom. This nuclear fuel deal was previously revealed by outgoing Prime Minister Keir Starmer at the G7 Summit.
The U.K. also plans to contribute to existing European Union initiatives. This includes a 13 million pound ($17 million) investment in the EU Flagship Fund, which aims to reach 500 million euros ($568 million) by year-end, and a 2.4 million pound ($3.2 million) contribution to the EU's Anti-Corruption Initiative.