Yellen Says US, G7 Partners Close to Finalizing $50 Billion Loan for Ukraine

Published on October 22, 2024

Treasury Secretary Janet Yellen announced on Oct. 22 that the United States and its partners in the Group of Seven (G7) nations are closing in on a final plan to lend as much as $50 billion to Ukraine, which is fighting a Russian invasion. The G7 nations—the United States, Canada, France, Germany, Italy, Japan, and the UK—reached a tentative plan in June to provide $50 billion in new loans to Ukraine using frozen Russian assets as collateral. The U.S. contribution to this loan plan is expected to be about $20 billion. “We’re very close to finalizing America’s portion of this $50 billion loan package,” Yellen said at a news conference kicking off the International Monetary Fund and World Bank annual meetings....