Ukraine receives first tranche of $20 billion US loan
Photo: Denys Shmyhal, Prime Minister of Ukraine (Vitalii Nosach, RBC-Ukraine)
The United States started providing Ukraine with money as part of a $20 billion loan. The first tranche amounted to $1 billion, according to the Prime Minister of Ukraine Denys Shmyhal.
"Ukraine has received $1 billion from the United States, secured by proceeds from frozen Russian assets," the Prime Minister stated.
He thanked American partners and the World Bank for such an important step toward justice.
"We expect that all sovereign Russian assets will be confiscated and directed toward Ukraine's recovery," emphasized the head of the Ukrainian government.
20 billion dollars from the United States
The G7 countries pledged this summer to provide Ukraine with a $50 billion loan, to be repaid using proceeds from frozen Russian assets.
The United States recently allocated $20 billion for this initiative, transferring the funds to Ukraine's account at the World Bank.
The Ukrainian government will have the autonomy to decide what to spend the money on. According to the Ministry of Finance, it is planned that almost half of the $50 billion will be used to meet the needs of the Ukrainian Defense Forces in 2025.
