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News > Ukraine

Group of Seven Assigned 19.8 Bln Dollars of Aid to Ukraine

  • G7 donated 19.8 billion dollars to Ukraine. May. 20, 2022.

    G7 donated 19.8 billion dollars to Ukraine. May. 20, 2022. | Photo: Twitter/@uasupport999

Published 20 May 2022

After Friday's meeting of finance ministers and heads of the G7 Central Banks, the country members of the block have announced they will allocate aid to Ukraine worth19.8 billion dollars.

The Group of Seven (G7) country members have announced that they will boost Ukraine with aid worth 19.8 billion dollars. The announcement was made after the meeting held by finance ministers and heads of the G7 Central Banks, celebrated in the German city of Koenigswinter near Bonn.

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The announcement said that "in 2022, we have mobilized $19.8 billion of budget support, including $9.5 billion of recent commitments <...> to help Ukraine close its financing gap and continue ensuring the delivery of basic services to the Ukrainian people."

According to the document, the Finance Ministers of G7 countries "welcome ongoing work across the G7 and international financial institutions on further substantial financing to Ukraine, notably including the proposal by the European Commission for up to 9 billion euros of additional macro-financial assistance."

"Additional planned support to Ukrainian state-owned enterprises and the private sector through the European Bank for Reconstruction and Development and the International Finance Corporation amounts to $3.4 billion," reads the announcement. The Minister of finance of G7 ensured that "will continue to stand by Ukraine throughout this war and beyond and are prepared to do more as needed."

The Group's finance ministers told that in the period 2014 to 2021, over 60 billion dollars have been allotted to Ukraine from the international community alongside the G7.

The G7 comprises economically developed countries such as the UK, Germany, Italy, Canada, the USA, France, and Japan. The association was founded to find solutions affecting the international community.

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