June 18, 2024, 13:42

Ukraine to receive a USD 50-billion loan from frozen russian assets

USD 50 billion will help to stabilize and ensure macro stability in 2025. The funds may arrive in the country by the end of this year.

Yulia Svyrydenko, First Deputy Prime Minister of Ukraine – Minister of Economy of Ukraine, made this statement during a briefing at Media Center Ukraine – Ukrinform.

“Just before the Conference in Berlin, a meeting of the G7 countries took place, and an extremely important decision was made there. I believe it is a revolutionary, historic (decision – Ed.) that we will be able to use the profits from confiscated russian assets. In fact, we will get a USD 50-billion loan. These 50 billion will help us stabilize and ensure our macro stability in 2025. This became possible due to the fact that 300 billion frozen russian assets – they are frozen in the European Union, a part of assets is in the U.S., the UK and other countries. Therefore, it was precisely the opportunity to use windfall profits that enabled us to make this decision to provide a grant worth 50 billion,” explained Yulia Svyrydenko.

In addition, she expressed hope that after the appropriate mechanism is developed, Ukraine will be able to receive these funds by the end of the current year.

“The decision allows us to be a little more confident in 2025, and now we already have the opportunity to plan and direct these resources to those needs that we consider a top priority, as well as to the security and defense sector. We hope that macroeconomic stability will also be ensured with this decision. This is an extremely important decision and we hope that a mechanism will be worked out now, and we will receive this money by the end of this year,” Yulia Svyrydenko added.

Read more: https://mediacenter.org.ua/news