The money will be used to help Ukraine close its funding gap and continue providing essential services.
The countries of the Group of Seven (G7) have decided to provide financial assistance to Ukraine in the amount of $ 18.4 billion. Reuters reported this on May 19, citing the draft final statement of the G7 finance ministers and leaders of Central Bank.
We mobilized $ 18.4 billion in budget support, including $ 9.2 billion in recent commitments, ahead of the Petersberg meeting to help Ukraine close its funding gap and continue to deliver essential services to Ukrainian citizens.
At the same time, it was indicated that $ 3.4 billion would be provided by the European Bank for Reconstruction and Development and the international financial corporation, which is part of the World Bank. Another € 9 billion will come from the European Union.
The money will be provided in the form of transfers and loans to help Ukraine meet its urgent financial needs. At the same time, G7 finance ministers assured that they will provide support to Kyiv both now and in the future, if necessary.
In this regard, German Finance Minister Christian Lindner said that Germany will provide financial assistance to Ukraine in the amount of approximately € 1 billion. At the same time, he explained that these are grants that must be paid from the budget for 2022 without the need to take out additional debts.
The United States aims to provide $ 7.5 billion. Kyiv requested assistance amounting to approximately € 5 billion per month for three months, for a total of approximately € 15 billion. However, additional support may be needed after three months.
Recall that in a speech at a session with the participation of finance ministers of the G7 countries on Thursday, May 19, Prime Minister Denys Shmygal announced the financial needs of Ukraine in the context of the war with Russia.
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Source: korrespondent
I am David Wyatt, a professional writer and journalist for Buna Times. I specialize in the world section of news coverage, where I bring to light stories and issues that affect us globally. As a graduate of Journalism, I have always had the passion to spread knowledge through writing.