U.S. Unveils $1.5 Billion Aid Package for Ukraine Amid G7's $50 Billion Loan Plan with 60% from EU

Jun 21, 2024, 02:13 PM

The U.S. unveiled a $1.5-billion aid package for Ukraine at the 'Summit on Peace in Ukraine.' This is part of a broader commitment from the Group of Seven (G7) leaders, who confirmed a plan to provide Ukraine with a $50 billion loan by the end of the year. European Union countries are set to provide up to 60% of this loan, with funding backed by income from frozen Russian assets. Next week, Ukraine will receive 1.9 billion euros from the EU as part of the 'Ukraine Facility.' The U.S. and its partners continue to discuss opportunities for investment in Ukraine and reaffirm their unwavering commitment to Ukraine's defense against Russia's illegal aggression. Discussions also included a bilateral security agreement and sanctions on 300 individuals and entities.