The guarantee of debt service and reimbursement is provided from future extraordinary revenues from the freezing of sovereign Russian assets, in accordance with the legal order of each country and international law
– said the seven countries in their final statement issued on Friday local time.
Our goal is to start disbursing the loan before the end of this year
– says the joint statement.
The United States, France, Japan, You have, Germany, Great Britain and Italy finance ministers a International Monetary Fund (IMF) is a World Bank held a meeting in Washington on the occasion of its annual meeting.
G7 leaders agreed in June to use interest from frozen Russian bank accounts in accordance with their own laws to guarantee a $50 billion loan to Ukraine.
The practical solutions and technical details still had to be clarified, this happened at the meeting of the seven finance ministers in Washington.
The loan is guaranteed from the future interest of up to three billion euros per year on Russian bank accounts amounting to around 300 billion euros.
It’s Tuesday United States has already announced that it intends to contribute $20 billion to the loan to Ukraine, promising to finalize the loan by the end of the year.
The officials added that the United States will provide $20 billion in aid to Ukraine anyway, regardless of whether it is split between economic and military aid or entirely as economic aid.
The European Unionwhich has frozen $235 billion of the Russian central bank, said it would contribute about 18 billion euros ($19.4 million) to the loan.
The cover image is an illustration. Cover image source: Getty Images
Source: www.portfolio.hu
