G7 provides an additional $9.5 billion in aid for Ukraine

The statement at the end of the G7 Finance Ministers Meeting said that with the additional $9.5 billion above, since the beginning of this year, the G7 has committed a total of $19.8 billion to Kiev to support Kiev. help Ukraine cover expenses, as well as help ensure the provision of basic services to the people of this country.

However, it is not yet clear whether the additional funds will be provided to Ukraine in the form of grants or concessional loans.

Germany previously announced $1.1 billion in non-refundable aid to Ukraine.

On May 20, the EU continued to disburse an additional 600 million euros in credit worth 1.2 billion euros committed to Ukraine. The first amount of 600 million euros was transferred to Ukraine by the EU in March 2022. In the past week, the EC has also proposed to provide an additional credit line of up to 9 billion euros to Ukraine this year. Since the beginning of the war, the EU has provided Ukraine with a total of 4.1 billion euros, in addition to weapons and military equipment worth 1.5 billion euros.

On the same day, Italian Finance Minister Daniele Franco announced that the country would lend Ukraine 200 million euros ($211 million) to help Kiev pay its bills. Meanwhile, Canada’s Deputy Prime Minister Chrystia Freeland said that the government of Canada will provide Ukraine with a new loan of $ 195 million through accounts managed by the International Monetary Fund (IMF). Currently, Ottawa’s total financial support for Kiev has reached $1.3 billion.

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