Ukraine Secures $1 Billion from Japan, UK, and US from $20 Billion G7 Initiative for Economic Support

Dec 24, 2024, 03:20 PM

Ukraine has received a total of $1 billion in financial assistance from Japan, the UK, and the United States, as announced by Prime Minister Denys Shmyhal. The $1 billion from Japan and the UK was provided under guarantees from their governments as part of the World Bank’s Development Policy Loan program. Shmyhal stated that these funds will be used to strengthen Ukraine's economy and support priority social and humanitarian expenditures. Additionally, Ukraine received the first tranche of $1 billion from the United States, which is part of a planned $20 billion allocation funded by proceeds from frozen Russian assets. This initiative is backed by the G7 and aims to utilize the frozen assets to support Ukraine's financial needs amid ongoing challenges.