Ukraine will receive the first funds from the G7 $50B loan in December; Ukraine’s goal is to confiscate all frozen Russian assets.

The leaders of the G7 countries have reached a consensus on providing about $50B in loans to Ukraine, secured by revenues from frozen Russian sovereign assets. In a communique published by world financial leaders in Washington at the annual meetings of the IMF and the World Bank, the G7 countries confirmed that their goal is to start disbursing funds by the end of the year.

Deputy head of the Parliamentary Committee on Information Policy Iryna Konstankevich said that the first funds from the G7 loan will arrive in December this year and the rest during 2025. Part of this amount will be directed to military needs, and the remainder will be used to ensure budget stability and Ukraine’s reconstruction.

At the same time, according to Oksana Markarova, Ukraine’s ambassador to the US, in parallel with using these funds Ukraine is working with its partners to confiscate all blocked Russian assets, cumulatively worth about $300B.