US Gives Ukraine $20 Billion in Loan Assistance
The US Treasury Department has sent $20 billion to Ukraine as part of a big effort by the G7 group of countries. This money will help Ukraine fight against Russia‘s invasion.
The US, along with other G7 countries like the EU and Canada, is giving this loan. The money comes from Russian assets that have been frozen. These funds are being used to repay loans taken out by the G7 countries.
Ukraine will get $20 billion from this effort. This is a big deal because it will help Ukraine’s economy and its military efforts against Russia.
The US Treasury Secretary, Janet Yellen, said in a statement: “These funds will help Ukraine defend itself against an unprovoked war of aggression.”
The money has been given to the World Bank’s fund for Ukraine. It will be used for emergency services, hospitals, and other important things that will help Ukraine resist Russia.
This is not the first time the G7 countries have given money to Ukraine. The EU has already committed $19 billion in loans from frozen Russian assets. Other countries like the UK, Canada, and Japan have also promised to contribute.
The US Treasury Department said that the Russian assets will stay frozen until Russia stops its aggression against Ukraine.