Britain will lend Ukraine 2.26 billion pounds ($2.94 billion) as part of a much larger planned loan from the Group of Seven nations backed by frozen Russian central bank assets to help buy weapons and rebuild damaged infrastructure.

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Britain on Monday announced it will lend Ukraine nearly $3 billion to be used on weapons and aid needed to repel the Russia's invasion.

The UK government will give an extra £2.26bn ($2.93bn) to Ukraine, using the profits from seized Russian assets held in Europe. It forms Britain’s contribution to a £38bn ($50bn) fund announced in June by members of the G7 group of leading economies.

The funds represent the UK’s share of a $50 billion (£38.39 billion) loan package agreed upon by the G7 nations, financed through interest generated from sanctioned Russian sovereign assets