Yellen hopes to approve $50 billion loan to Ukraine by October
Kyiv • UNN
U.S. Treasury Secretary Janet Yellen expects to approve the terms of a $50 billion loan to Ukraine by October. The funds are to be provided from frozen Russian assets, which are to remain blocked until the loan is repaid.
U.S. Treasury Secretary Janet Yellen expressed hope that the G7 members will be able to agree on the terms of a $50 billion loan to Ukraine by October using frozen Russian assets. According to her, the US authorities have been having “constructive conversations” on this topic and are “working closely” with the G7 on this issue. This was reported by Reuters, according to UNN .
Details
“I think it's going well, we'll probably be able to do it by October,” Yellen told Reuters.
In a conversation with the agency, she also said that the US authorities are putting pressure on the European Union and the G7 countries to guarantee a long-term freeze on Russian assets. According to her, the assets should remain frozen for as long as it takes to repay the $50 billion loan to Ukraine, so that American taxpayers do not have to repay the loan.
Recall
The EU, the US, and the G7 countries have been developing a plan to provide Ukraine with loans totaling $50 billion by the end of 2024. According to the EU's plans, 90% of the profits will be allocated to supply military aid to Ukraine through the European Peace Fund in 2024. In 2024, Ukraine may receive €3 billion of these funds. Another 10% will be allocated to the EU budget for further distribution to the Ukraine Facility (a long-term assistance program for Ukraine).
