G7 countries will provide Ukraine with 50 billion euros from frozen Russian assets - Macron’s advisor Bonn
The G7 countries will provide Ukraine with another 50 billion euros by the end of 2024 through the use of frozen Russian assets.
This information was confirmed during a telephone briefing by Emmanuel Bonne, a diplomatic adviser to French President Emmanuel Macron, Censor.NET reports citing Ukrinform.
"The leaders have made a decision. We will confirm our support for Ukraine in the form of a joint loan of 50 billion euros, which the G7 countries will provide to Ukraine by the end of the year," he said.
According to him, this is an American loan, "but it can be supplemented with European money or national contributions."
He explained that this loan to Ukraine is planned to be repaid from the proceeds of frozen Russian assets in the European Union.
"And you understand that if the Russian assets are unfrozen for one reason or another, or if the proceeds from the Russian assets do not bring more than is needed to finance the loan, then the question of burden sharing arises," Bonn explained.
Therefore, technical experts have to agree on the contract that will be used to finance the loan, as well as make sure that it complies with all laws and rules of public finance.
"But things will go very quickly, and in any case, 50 billion will be disbursed by the end of 2024," added Macron's advisor.
The German Ministry of Finance, in turn, welcomed the G7's decision.
"Good news from the G7: Another $50 billion for Ukraine. To do this, we are using interest from frozen assets - a smart tool that demonstrates our unity to Putin, helps Ukraine greatly and relieves the burden on budgets. We are now working on the details," Minister Christian Lindner said.
