The leaders of the Group of 7 agreed to deliver loans of 50 billion dollars to Ukraine
Leaders of the Group of 7 countries agreed to deliver $50 billion in loans to Ukraine, backed by proceeds from frozen Russian assets, starting in early December 2024.
According to Isna, the group’s statement said: “These loans will be paid and repaid with future streams of extraordinary incomes resulting from the freezing of Russian assets.”
According to the Reuters News agency, this statement was published as the world finance chiefs met in Washington for the annual meetings of the International Monetary Fund and the World Bank.
In the continuation of the statement of the heads of the member countries of the Group of 7, it is also mentioned: “Our goal is to start paying the funds by the end of the year.”
The loans will be disbursed through a series of bilateral loans starting on December 1 and lasting until the end of 2027, reflecting Ukraine’s urgent financial needs, a statement from the Group of 7 finance ministers said.
The United States announced on Wednesday that it will provide a $20 billion loan to Ukraine in December. Also, another 20 billion dollar loan is supposed to be given to Ukraine by the European Union countries including Germany, France and Italy, and another 10 billion dollar loan will be provided by Canada, England and Japan.
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