According to a statement issued Friday, G7 leaders have finalised the terms of a $50 billion loan to support Kyiv, which would be backed by income from Russian sovereign assets that were frozen during its invasion of Ukraine.
Aiming to begin disbursing funds by the end of this year, leaders of the Group of Seven affluent democracies stated that they “have reached a consensus on how to deliver” the roughly $50 billion in loans.
“The loan proceeds will be disbursed through multiple channels to support Ukraine’s budgetary, military and reconstruction assistance,” G7 leaders added.
As world financial leaders convened in Washington this week for talks organised by the World Bank and International Monetary Fund, they made their statement.
“Agreed on a technical solution ensuring consistency, coordination, fair distribution of lending, and solidarity among all G7 partners,” the statement read.
“We will not tire in our resolve to give Ukraine the support it needs to prevail,” the leaders added.
They called on Moscow to end its war and pay for damage caused to Ukraine.
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