Germany, G7 to provide €50b loan to Ukraine

Germany, in collaboration with other G7 countries, will provide a €50 billion loan to Ukraine, German Chancellor Olaf Scholz announced on Tuesday. The loan is part of a broader agreement approved by G7 leaders to utilise revenue from immobilised Russian assets.

This financial aid aims to support Ukraine’s defence efforts by enabling the purchase of substantial amounts of weapons.

Scholz emphasised Germany’s commitment to being a leading supporter of Ukraine in Europe. The move underscores ongoing international support for Ukraine amidst its ongoing war with Russia.