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International Business Times
International Business Times
Business
Beiyi SEOW

G7 To Make $50 Bn Ukraine Loan Available By Year-end: Yellen

US Treasury Secretary Janet Yellen said the loan would 'provide Ukraine with urgently needed funds,' as she met Ukrainian Finance Minister Sergii Marchenko (Credit: AFP)

G7 nations are committed to making $50 billion in lending available to Ukraine by year-end, US Treasury Secretary Janet Yellen said Wednesday as she met her Ukrainian counterpart in Washington.

The Group of Seven wealthy democracies had agreed to offer a new $50 billion loan for Ukraine, using profits from the interest on Russian assets frozen after President Vladimir Putin ordered the invasion of his neighbor in 2022.

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