WASHINGTON, D.C. — Leaders of the Group of Seven (G7) wealthy democracies have finalized details surrounding a $50-billion loan to aid Kyiv, backed by profits from Russian sovereign assets frozen after it invaded Ukraine, according to a statement released on Friday.
WASHINGTON, D.C. — Leaders of the Group of Seven wealthy democracies have finalized details surrounding a $50-billion loan to aid Kyiv , backed by profits from Russian sovereign assets frozen after it invaded Ukraine, according to a statement released on Friday.The G7 leaders said they 'have reached a consensus on how to deliver' the loans of approximately $50 billion, with an aim to start disbursing funds by the end of this year.
$20-B US supportThis week, United States President Joe Biden said that as part of the G7 package, Washington would provide $20 billion in loans to Ukraine, to be paid back by the interest earned from immobilized Russian sovereign assets.This is aimed at supporting Ukraine now, 'without burdening taxpayers.''Our efforts make it clear: tyrants will be responsible for the damages they cause,' Biden said.
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