WASHINGTON: Leaders of the G7 (G7) group of the world’s richest nations announced in a statement on Friday that they have made a final decision to provide $50 billion in aid to Kiev from the profits from frozen Russian assets.
Leaders of the Group of Seven wealthy Democrats said they had agreed on how to disburse nearly $50 billion in debt, with the goal of beginning disbursements by the end of the year.
“Loans will be distributed through multiple channels to support Ukraine’s budget, military and reconstruction”, the G7 leaders said.
Their announcement came as world financial leaders gathered in Washington this week for a meeting hosted by the International Monetary Fund and the World Bank.
“We will not back down from our resolve to provide Ukraine with the support it needs,” the group pledged. They also called on Moscow to end its war and pay for the damage done to Ukraine.
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