US Provides $20 Billion Loan to Ukraine from Seized Russian Assets
Tuesday, 10 December 2024, 21:54
US Loan to Ukraine
The U.S. Treasury Department announced a monumental loan of $20 billion to Ukraine funded by seized Russian assets. This financial support is a crucial part of the broader Group of Seven (G7) initiative aimed at enhancing Ukraine’s defense capabilities against ongoing aggression.
Details of the Loan
- The loan will be disbursed to Ukraine through the World Bank.
- This funding constitutes nearly half of the G7’s $50 billion Extraordinary Revenue Acceleration Loans program.
- Treasury Secretary Janet Yellen emphasized the significance of these funds for Ukraine's defense.
Financial Impact
Yellen noted that these funds, derived from the immobilized assets of Russia, will be pivotal for Ukraine to maintain crucial services, including hospitals and emergency infrastructure, as it continues to resist the current crisis.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.