The Prime Minister of the United Kingdom of Great Britain and Northern Ireland, Keir Starmer, will announce a new economic recovery program during his visit to Ukraine on Thursday, allocating GBP 40 million to unlock private lending aimed at supporting the growth and economic resilience of small and medium-sized businesses in Ukraine, as reported on the UK government's website.
"The program will create opportunities for British companies by supporting key growth sectors in Ukraine, opening up expanded trade and investment possibilities with one of our closest allies. Funding will be directed towards enterprises that promote a green economy and vulnerable groups, including women and veterans," the statement reads.
Additionally, the long-term implementation of the TIGER program (Triggering Investment Growth and Economic Resilience) is anticipated, which will reduce the dependence of Ukrainian communities on humanitarian aid and enhance economic resilience.
"Today's announcement builds on a support package of £12.8 billion that the UK has provided to Ukraine," the statement adds.
As reported, Starmer arrived for a visit to Kyiv on Thursday morning.