The US announces that it will grant Ukraine a loan of 18.5 billion as part of the G7 initiative

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MADRID 23 Oct. () –

The United States has announced that it will grant Ukraine a loan of $20 billion (€18.5 billion) financed with interest on Russian assets frozen by sanctions as part of the initiative agreed upon in the summer by the G7.

“These loans will support the people of Ukraine in their defense and reconstruction of the country. Our efforts make clear that tyrants will be held accountable for the damage they have caused,” the White House said in a statement.

Washington’s announcement comes after G7 leaders agreed in June to provide kyiv with a $50 billion loan. The remaining amount, therefore, will be allocated by the European Union, the United Kingdom, Canada and Japan.

“Let us not be mistaken: Russia will not prevail in this conflict. The people of Ukraine will prevail,” the White House said, adding that this initiative is “another reminder” to Russian President Vladimir Putin that “the world has come together in support for Ukraine.”

The White House deputy national security advisor for economic affairs, Daleep Singh, has detailed that 10 billion in economic support to kyiv will be disbursed into the financial intermediation fund created by the World Bank.

The rest, in the form of military support, will depend on the US Congress approving measures to establish legislative changes so that loans can be granted under this G7 initiative, he explained at a press conference.

“Never before has a multilateral coalition frozen the assets of an aggressor country and then exploited the value of those assets to fund the defense of the aggrieved party, all while respecting the rule of law and maintaining solidarity,” Singh added. .