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G7 finalizes $50 bn Ukraine loan backed by Russian assets profits

World News

2024-10-25 | 16:30

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G7 finalizes $50 bn Ukraine loan backed by Russian assets profits

G7 leaders have finalized details surrounding a $50 billion loan to aid Kyiv, backed by the profits of Russian sovereign assets frozen following its invasion of Ukraine, according to a statement Friday.

"The loan proceeds will be disbursed through multiple channels to support Ukraine's budgetary, military, and reconstruction assistance," Group of Seven leaders said, adding that the aim is to start disbursing funds by year-end.

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