de flag go to the original language article
This article has been translated by Artificial Intelligence (AI). The news agency is not responsible for the content of the translated article. The original was published by dpa.

German Finance Minister: EU will contribute 18 billion to Ukraine loan

by AI | 23.Oct 2024 | Europe in brief AI

The G7 countries want to grant Ukraine financial aid worth billions. The money is to be covered by interest income from frozen Russian assets. The EU wants to contribute 18 billion euros.

USA, New York: Christian Lindner, Federal Minister of Finance, speaks during a keynote speech in front of German and American entrepreneurs at the University Club of New York on the topic "Strengthening the Transatlantic Partnership for a Win-Win: Germany and the United States in a Challenging Global Environment". Photo: Soeren Stache/dpa

New York – The EU wants to contribute around 18 billion euros to an international loan to Ukraine, according to German Finance Minister Christian Lindner. “We are on the verge of a breakthrough in supporting Ukraine this week,” Lindner said during a visit to New York. He was grateful that the US was expected to contribute with 20 billion dollars. “This also paves the way for the support of the European Union to the extent of 18 billion euros.”

It concerns a loan of 50 billion US dollars, which the seven major western industrialized countries (G7) decided on at a summit in June, and which is secured by interest earnings from frozen Russian assets. A consensus among the participants is expected to be reached by the end of the week. 

It is possible this week to send a clear signal that the G7 and the European Union are united in defending international order by supporting Ukraine in its right to self-defense, emphasized Lindner. (October 22)