Biden Administration's $20 Billion Ukraine Aid Commitment

The Biden administration aims to provide $10 billion in military aid to Ukraine, part of a $20 billion pledge under a $50 billion loan arranged with the G7 and EU. U.S. Congress approval is necessary for the military aid, while $10 billion in economic support is already planned.

The Biden administration has confirmed its commitment to deliver $10 billion in military assistance to Ukraine, as part of a larger $20 billion aid package, according to the White House National Security Council. This forms part of a $50 billion loan coordinated with the G7 and European Union.

The decision now hinges on U.S. Congressional approval to finalize the military aid portion. The administration is prepared to disburse $10 billion in economic support to Ukraine by December but requires lawmakers' backing to secure the military funds.

Meanwhile, discussions continue around the possibility of reallocating entire funds through the World Bank Trust Fund. Finance ministers from the G7 are set to conclude talks shortly, and further details are anticipated as agreements with Ukraine are finalized.

(With inputs from agencies.)