Rome, (14 June 2024) — Leaders of the G-7 nations have agreed to provide a $5 billion loan to Ukraine. This decision was announced during the G-7 summit, which commenced in Italy on Thursday, June 13. The loan is intended to support Ukraine amid the ongoing conflict with Russia.

The loan will be financed from the profits generated by the Russian assets seized in the G-7 member countries. These funds are expected to be transferred to Ukraine by the end of this year.

The first day of the three-day summit featured a special session dedicated to the war in Ukraine. Ukrainian President Volodymyr Zelensky attended this session, alongside prominent leaders such as:

  • U.S. President Joe Biden
  • Italian Prime Minister Giorgia Meloni
  • French President Emmanuel Macron

Top officials from the European Union, which is a partner of the G-7 alliance, also participated in the discussions.

The $5 billion loan aims to bolster Ukraine's economy and infrastructure, which have been significantly impacted by the ongoing war. The financial support underscores the G-7's commitment to assisting Ukraine in its time of need.

This substantial financial aid package reflects the international community's support for Ukraine and highlights the G-7's strategic use of seized Russian assets to aid the embattled nation. The summit continues to address various global issues, with the situation in Ukraine remaining a central focus.