The European Union may allow the UK to join a €90 billion loan facility for Ukraine, of which €60 billion will be allocated for defense needs.
This was reported by The Times.
Such a decision would allow British defense companies to participate in tenders for arms supplies on equal terms with European manufacturers.
Currently, EU rules restrict British firms, which can only bid on contracts if companies from EU countries do not produce the necessary weapons.
However, European officials are discussing the possibility of expanding access for the British defense industry.
In particular, European Commissioner for Trade and Economic Security Maroš Šefčovič stated that the EU is open to London’s broad participation in this program.
According to him, such cooperation could be beneficial to both sides.
European officials added that they are not opposed to British companies participating in tenders to be financed by this loan.
It is expected that the United Kingdom’s participation will involve a contribution of approximately £390 million (€437 million), although the final amount is still being negotiated.
A source within the British government confirmed that negotiations are underway regarding joining this large-scale financial program.
EU loan
An agreement to provide Ukraine with a loan of €90 billion over the 2026–2027 period was reached at the EU leadership level, but its disbursement is being blocked by Hungary. According to the plan, two-thirds of the funding will go toward military support.
In particular, Ukraine plans to use part of this loan to purchase Swedish Gripen fighter jets. Funds may also be directed toward the purchase of critically important weapons outside the EU.
