G7 to Unlock $50 Billion Aid Package for Ukraine

The G7 finance leaders announced a $50 billion aid package, composed of bilateral loans backed by frozen Russian assets, for Ukraine. Disbursements will start from December 1, 2027. The U.S. will provide $20 billion by year-end, while the EU will contribute $20 billion and Canada, Britain, and Japan will split $10 billion.

The Group of Seven finance leaders announced on Friday that a $50 billion aid package, comprising bilateral loans backed by frozen Russian assets, will be available to Ukraine starting December 1 through to the end of 2027.

In a statement from their Washington meeting, the G7 finance ministers and central bank governors specified that each bilateral loan would come into effect no later than June 30, 2025, providing a significant financial boost to Ukraine in its rebuilding efforts.

On Wednesday, the U.S. unveiled its plan to offer Ukraine a substantial $20 billion loan by the year-end, with an additional $20 billion coming from the European Union. The remaining $10 billion will be shared among Canada, Britain, and Japan.

(With inputs from agencies.)