Group of Seven (G7) leaders on Thursday officially confirmed that they agreed to provide Ukraine with a $50 billion loan by the end of 2024.
“As the G7 we are mobilizing $50 billion for Ukraine – to defend its sovereignty. A historic step,” German Chancellor Olaf Scholz said. Meanwhile, Italian Prime Minister Giorgia Meloni explained that the funds will not come from the confiscation of Russian assets per se, but from the profits they generated and accumulated over time.
European Commission President Ursula von der Leyen praised the agreement, emphasising that “it is a strong signal that we are sending to Ukraine that we will support Ukraine in its fight for freedom for as long as it takes.”
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