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Global & External  ›  International Relations  ›  War Loans & Military Aid  ›  When did the UK repay WWII war loans to the USA and Canada?

When did the UK repay WWII war loans to the USA and Canada?

The UK finished paying off its World War II loan to the United States (and Canada) on December 29, 2006.

Key Facts About the Loan:

  • The UK repaid loans taken during and after WWII.
  • The main loan was the Anglo-American Loan Agreement of $3.75 billion (about $57 billion today), provided by the US in 1946 to help Britain rebuild.
  • Canada also loaned the UK C$1.65 billion at the same time.
  • The loan was given at a low 2% interest rate, but post-war economic struggles made repayment difficult.
  • Payments were due annually on December 31, but the UK deferred payments six times due to economic hardship.

Final Payment:

  • The UK made its last payment of $83.25 million on December 29, 2006, officially clearing the debt.

This marked the end of Britain"s financial obligations for WWII-related borrowing.