The G7 countries have agreed to provide Ukraine with a loan of 50 billion dollars

The G7 countries have agreed to provide Ukraine with a loan of 50 billion dollars

The G7 countries have agreed to provide Ukraine with a $50 billion loan using the profit from frozen assets of the Central Bank of Russia.

This is stated in the joint statement of the G7 countries.

"These loans will be serviced and repaid through future extraordinary revenue flows obtained by immobilizing Russian sovereign assets… Our aim is to start disbursing funds by the end of the year," the G7 statement reads.

According to Reuters, in an accompanying statement by the G7 finance ministers, it is stated that the loans will be disbursed through a series of bilateral loans, starting from December 1 and continuing until the end of 2027, "in tranches reflecting Ukraine’s urgent financing needs."

The statement does not specify the exact amounts of the bilateral loans but notes that additional details will be published in the coming days.

The US has stated that it will provide $20 billion, another $20 billion loan will come from the EU, and the remaining $10 billion will be distributed between Canada, the United Kingdom, and Japan.