G7 leaders have finalised details surrounding a $50 billion loan to aid Kyiv, backed by profits from Russian sovereign assets frozen after its invasion of Ukraine, according to a statement released Friday.
Leaders of the Group of Seven wealthy democracies 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.
“The loan proceeds will be disbursed through multiple channels to support Ukraine’s budgetary, military and reconstruction assistance,” G7 leaders added.
Their announcement came as world financial leaders gathered in Washington this week for meetings hosted by the International Monetary Fund and World Bank.
Finance ministers have “agreed on a technical solution ensuring consistency, coordination, fair distribution of lending, and solidarity among all G7…
