London allocates over £10 billion to Ukraine — largest aid package ever

The United Kingdom announced an allocation of more than £10 billion ($13.3 billion) in additional financial and military support to Ukraine — the largest aid package in the entire history of British-Ukrainian cooperation, announced Ukrainian President Volodymyr Zelensky on Wednesday, October 28.

The package consists of three components. The first is £7 billion ($9.3 billion) in economic support over three years, including up to £5.5 billion in World Bank guarantees and £500 million as a contribution to the World Bank crisis fund to attract additional financing. The second is £3 billion ($4 billion) to expand the limits of the UK Export Finance agency, primarily for defence exports; accounting for existing commitments, the total export financing limit for Ukraine will reach £6.5 billion. The third is £500 million ($665 million) in urgent military assistance to close critical gaps in Ukraine's air defence system ahead of winter.

UK Prime Minister Keir Starmer and Finance Minister John Healey held negotiations with Zelensky on the eve of the cabinet meeting on Wednesday.

Zelensky wrote on social media that he had an excellent conversation with UK Prime Minister Keir Starmer and expressed gratitude for Britain's "unwavering, strong and truly leading support."

The Ukrainian leader called the announcement a timely signal to Moscow, stating that it was "truly a strong and very timely step" precisely at the moment when Russia needs to see and feel that Ukraine will not be left alone.