NewsSecurity

Cabinet of Ministers of Ukraine Approves Borrowings for Purchase of French Patrol Boats

boat

The Government of Ukraine approved external borrowing of up to EUR 116 million within the framework agreement between the Government of Ukraine and the Government of the French Republic on the manufacture and technical support for a batch of patrol boats.

According to the press service of the Ministry of Finance of Ukraine, the Cabinet of Ministers authorised Minister of Finance Serhiy Marchenko to conclude an agreement on the purchase of 20 boats for maritime security and protection of maritime borders.

The project’s financing includes a bank loan guaranteed by the French export agency Bpifrance Assurance Export for a maximum of EUR 76 million, as well as a direct loan from the French Treasury for a maximum amount of EUR 40 million.

According to the Ministry of Finance, financial support is provided in the amount, which is 85% of the contract value.

On 5 March, the Verkhovna Rada ratified the contract for the purchase of these boats. The agreement with the French government was signed by Interior Minister Arsen Avakov in November 2019. A quarter of the order will be fulfilled by a domestic shipbuilding company using French technology.

The other day it was reported that the UK will create a new class of original missile boats for the Ukrainian fleet, and now London is choosing between two options.

According to British military attaché, Commodore of the Royal Navy Tim Woods, Ukraine will have access to a technological process that is important for the modernisation of Ukrainian shipbuilding.

“We will build the first four boats in the UK, while allowing Ukrainian shipbuilders to observe, learn and train. The second, four missile boats, will be built. And it will be great for both Ukrainian shipbuilding and the Ukrainian Navy, as you get these opportunities here in Ukraine,” the attaché noted.

He also confirmed that the UK would help Ukraine to create two naval bases, as it was previously announced by the Office of the President of Ukraine.

Bohdan Marusyak

Related posts
NewsSociety

Diplomatic War: Prague Expels 18 Russian Embassy Staff

NewsSociety

Ukrainian Consul Detained by FSB in Russia

NewsOriginalSociety

Clusters of Reconciliation or Formula of Surrender? Ukraine Concerned about Possible ‘Remix’ of Minsk Agreements

NewsOriginalSociety

Magic Call