$50 billion loan for Ukraine: EU countries to provide majority of funds
Illustrative photo: EU countries will provide funds for a loan to Ukraine (Getty Images)
European Union countries plan to provide up to 60% of the required funds for a $50 billion loan to Ukraine, according to the Minister of Economy and Finance of Italy Giancarlo Giorgetti.
According to the official, EU countries will contribute between "50 and 60%" of the total loan amount.
"We will start discussing the share for the US, Canada, Japan, and the UK," Giorgetti added.
This statement contradicts the words of Italian Prime Minister Georgia Meloni, who stated that the EU countries would not be directly involved in providing Ukraine with a $50 billion loan.
What preceded it
The leaders of the G7 agreed during last week's summit to provide Ukraine with a $50 billion loan.
The plan is to repay the loan using revenues from Russian assets that have been frozen in Western countries since the start of the full-scale war in Ukraine.
The funds are to be transferred to Ukraine by the end of 2024.
