G7 aims to finalize $50 Billion loan for Ukraine by end of October

European Commission has said that the Group of Seven (G7) countries want to reach a political agreement on the 50 billion dollar loan for Ukraine by the end of this month for the cash to be able to available before the end of this year.

The loan for Ukraine is to be serviced from profits generated by immobilised Russian assets



in the West. More than two-thirds of the assets, some 210 billion euros, are in the EU.

 

The G7 countries are the United States, Canada, Japan, Britain, France, Germany and Italy. The European Union as a whole, represented by its institutions, is also part of the group.