The US government has agreed to allocate its share of $20 billion to a larger G7 loan for Ukraine, which will be provided under the guarantee of profits from the frozen assets of the Russian Federation.
Points of attention
- The United States is set to provide Ukraine with a $20 billion loan as part of the larger G7 loan, utilizing profits from frozen assets of the Russian Federation.
- The Group of Seven aims to offer Ukraine a total of $50 billion in loans by the end of the year, enhancing the country's protection and stability.
- In addition to the US loan, Ukraine will receive a 35 billion euro loan from the EU to cover expenses related to cooperation with the EU and the G7.
- The financial assistance package includes an emergency macro-financial assistance loan of up to EUR 35 billion from the EU, funded by income from frozen Russian assets in the EU.
- President Volodymyr Zelenskyi expressed gratitude towards the United States and G7 for the financial support, highlighting the importance of the funding for Ukraine's defense and stability.
The United States will provide Ukraine with a $20 billion loan
This was stated by US Treasury Secretary Janet Yellen on October 23 during a meeting in Washington with the head of the Ministry of Finance of Ukraine Serhiy Marchenko.
The Group of Seven intends to provide Ukraine with a $50 billion loan by the end of this year. And the United States will join the G7 to provide Ukraine with a $20 billion loan, which will be repaid with proceeds from Russia's own assets.
President Volodymyr Zelensky announced the US decision to provide Ukraine with $20 billion from frozen Russian assets in an evening video message.
There is now important news from the United States: America has decided to provide 20 billion dollars. These are funds secured by frozen Russian assets. Part of the G7 decision on $50 billion for Ukraine is for our defense, for our stability. This is what will really sustain us. And it is important to implement it already this year. Thank you to the United States, thank you to the entire Group of Seven.
Volodymyr Zelensky
President of Ukraine
Ukraine will receive a 35 billion euro loan from the EU
On October 23, the Council of the EU finally approved, by written procedure, the allocation of a macro-financial loan to Ukraine in the amount of EUR 35 billion, the payments and maintenance of which will be made from extraordinary income from Russian assets frozen in the EU.
Following the successful completion of the written procedure, the EU Council today approved a financial assistance package for Ukraine, including an emergency macro-financial assistance loan of up to EUR 35 billion and a credit cooperation mechanism that will help Ukraine repay these loans of up to EUR 45 billion provided by the EU and partners according to G7.
