<P> The Anglo - American Loan Agreement was a post World War II loan made to the United Kingdom by the United States on 15 July 1946, and paid off in 2006 . The loan was negotiated by John Maynard Keynes . The loan was for $3.75 billion (US $57 billion in 2015) at a low 2% interest rate; Canada loaned an additional US $1.19 billion . </P> <P> The loan was made primarily to support British overseas expenditure in the immediate post-war years and not to implement the Labour government's welfare reforms . British treasury officials believed they could implement the Labour government's domestic reforms without the loan if Britain withdrew from all major overseas commitments . Additionally, Britain's lend - lease balance was payed off for $650 million (US $900 million) in 2006 . </P>

When did the uk finish paying for ww2