The US and the G7 are 99% in agreement on a $50 billion loan to Ukraine

The United States is almost ready to offer $20 billion as part of a broad credit program led by the Group of Seven to help Ukraine.

This was stated by U.S. Treasury Secretary Janet Yellen, RBC-Ukraine reports citing Bloomberg.

According to her, the G-7 countries intend to finalize a $50 billion loan agreement for Ukraine this week using the profits from the frozen assets of the Russian central bank.

“We are 99% ready, and there are only a few relatively small issues to be resolved. We are very close, and there is nothing significant that needs to be finalized,” she said.

She noted that the funding should arrive in Ukraine by the end of this year.

According to the newspaper, along with the US contribution, the EU, which has approved a loan of up to $37.9 billion, will eventually provide at least $20 billion.

According to the newspaper's sources, the G7 wants the first funds to arrive in Ukraine by the end of the year, with the bulk of the aid to be provided in tranches next year. The aid will be aimed at meeting many of Ukraine's military and economic needs.

Bloomberg reminded that the UK has provided Ukraine with a loan of almost $3 billion, which will be repaid from frozen assets of the Russian Federation. Japan and Canada are likely to provide similar amounts, according to the people, who requested anonymity.

Author - Olena Madiak, 22/10/2024