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G-7 finalizes  billion loan to Ukraine backed by Russian assets
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G-7 finalizes $50 billion loan to Ukraine backed by Russian assets

The Group of Seven nations has finalized a $50 billion loan to Ukraine backed by profits generated by the Russian central bank’s non-current assets, paving the way for much-needed aid to flow to Kiev soon and largely protecting critical financing from the result of the US presidential election.

“Today, we, the leaders of the Group of Seven, reached a consensus on how to provide Ukraine with approximately $50 billion in extraordinary revenue-accelerating loans,” the G-7 leaders said in a joint statement. “Proceeds from the loan will be disbursed through multiple channels to support budgetary, military and reconstruction assistance to Ukraine.”