U.S. announces disbursement of $20 billion loan to benefit Ukraine, to be repaid with proceeds earned from immobilized Russian Sovereign assets
The United States has granted Ukraine a $20 billion loan as part of a $50 billion overall G7 loan with repayment by proceeds from frozen Russian sovereign assets, the US Treasury Department said in a statement.
“Today, the United States Department of the Treasury is announcing the disbursement of $20 billion for the benefit of Ukraine, as part of the $50 billion G7 Extraordinary Revenue Acceleration (ERA) Loans initiative” department reported.
It is noted that Kiev will receive these funds through the World Bank’s intermediary fund to facilitate the financing of Ukraine.
In October, G7 finance ministers said that the nearly $50 billion loan to Kiev will be fully repaid from December 2024 to December 31, 2027, with principal and interest to be repaid with funds from the proceeds of Russia’s frozen assets. The loan to Ukraine will be disbursed in bilateral loans from G7 member countries, with each loan to take effect no later than June 30, 2025.
