Thursday, October 8, 2020

Ukraine secures $1.61 billion from UK to build new fast attack crafts

The Presidential Office of Ukraine has announced on Wednesday that was signed a Memorandum on enhancing cooperation between Ukraine and the United Kingdom in the military and military-technical spheres.

The details were given in a 7 October media release, to announce Ukraine signed a memorandum with the United Kingdom, securing 1.25 billion pounds ($1.61 billion) to build new fast attack crafts for the Ukrainian Navy.

“This should significantly increase the efficiency and reduce the time of implementation of joint projects in the defense sector, which is critical in the context of aggravation of the situation in the Black Sea region,” said in a statement.

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The funds would be in the form of a 10-year loan and allow the UK to provide 8 Barzan-class fast attack crafts to Ukraine, multiple news outlets reported

They said the first two ships would be constructed in the UK with the remaining 6 vessels to be completed in Ukraine in partnership with BAE Systems Surface Ships.

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Executive Editor

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