U.S. Grants $20 Billion Loan to Ukraine Using Frozen Russian Assets as Part of G7's $50 Billion Plan

Dec 10, 2024, 06:56 PM

On December 10, the U.S. Treasury Department announced the disbursement of a $20 billion loan to Ukraine as part of the G7's $50 billion Extraordinary Revenue Acceleration Loans Initiative. The loan will be repaid using proceeds earned from immobilized Russian sovereign assets, specifically profits generated from frozen Russian central bank assets. According to U.S. Treasury Secretary Janet Yellen, these funds will be disbursed through the World Bank's intermediary fund to sustain Ukraine's emergency services and support its economy amid the ongoing conflict with Russia.