US Pledges Up to $20 Billion and UK £2.26 Billion in G7 Loan to Ukraine, Repayable from Frozen Russian Assets

Oct 21, 2024, 11:11 PM

The United States has agreed to contribute up to $20 billion, accounting for 40% of a $50 billion G7 loan package to Ukraine. The loan, which will be repaid using profits generated from frozen Russian assets, aims to support Ukraine's military efforts and reconstruction amid its ongoing conflict with Russia. Similarly, the United Kingdom has pledged £2.26 billion ($2.93 billion) to Ukraine under the same G7 scheme, with repayment also expected from the proceeds of frozen Russian assets. The funds will enable Ukraine to purchase military equipment and rebuild damaged infrastructure. G7 nations are accelerating talks to finalize the loan package by the end of the year.