Photo: usebassy.gov
The money will be directed to help Ukraine close the funding gap in various areas
The money will be used to help Ukraine close its funding gap and continue to provide essential services.
The countries of the Group of Seven (G7) decided to provide financial assistance to Ukraine in the amount of $18.4 billion. This was reported on May 19 by the agency Reuters with reference to the draft final statement of the finance ministers and heads of the G7 Central Bank.
We have mobilized $18.4 billion in budgetary 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 the Ukrainian people.
At the same time, it is indicated that $3.4 billion will 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 cash will be provided in the form of transfers and loans to help Ukraine meet its urgent financial needs. At the same time, the G7 finance ministers assured that they would provide support to Kyiv both now and in the future, as needed.
In turn, German Finance Minister Christian Lindner said that Germany would provide financial assistance to Ukraine in the amount of about €1 billion. At the same time, he explained that these were grants that should be paid from the budget for 2022 without the need to take on additional debts.
The United States intends to provide $7.5 billion. Kyiv has requested assistance in the amount of about €5 billion a month for three months, for a total of about €15 billion. However, additional support may be needed after three months.
Recall that during 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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