Conflicts & War

G7 mobilizes 19.8 billion dollars in support of Ukraine

Königswinter, Germany, May 20 (EFE).- G7 finance ministers and central bank governors on Friday announced they have mobilized 19.8 billion US dollars of budget support for Ukraine to ensure payment capacity.

“In 2022, we have mobilized 19.8 billion US dollars of budget support, including 9.5 billion US dollars of recent commitments in the lead up to the Petersberg meeting, to help Ukraine close its financing gap and continue ensuring the delivery of basic services to the Ukrainian people,” a statement following a G7 meeting in Königswinter, Germany, said.

“We are working closely with Ukraine to safeguard its macroeconomic stability in face of the challenges posed by Russia´s war of aggression, massive destruction of critical infrastructure and disruption of traditional shipping routes for Ukrainian exports,” it added.

The G7 said it supported and welcomed “ongoing work” across the G7 and the European Union, which has recently proposed an additional 9 billion euros of macro-financial assistance.

“We remain steadfast in our support for and solidarity with Ukraine.”

Members of the G7 include Canada, France, Germany, Italy, Japan, the United Kingdom and the United States. EFE


Related Articles

Back to top button