Ukraine to receive first funds from US from proceeds of frozen Russian assets
Ukraine is set to receive its first tranche of funds from the US derived from the proceeds of frozen Russian assets, with the World Bank allocating US£2 billion. Source: Ukrainian Prime Minister Denys Shmyhal Details: The World Bank's Executive Board approved the decision recently and Ukraine's Ministry of Finance signed the relevant agreements today.
Advertisement:Allocation of Funds:
- US£1 billion will be granted as a non-repayable grant from the World Bank's FIF fund, sourced from the US contribution under the G7 initiative.
- US£1.05 billion will be provided as a loan backed by guarantees from the governments of Japan and the United Kingdom.
Ukraine has fulfilled all the necessary requirements to receive the funds, Shmyhal added.
Background: The European Commission announced on 19 December its decision to begin disbursing loans to Ukraine in early 2025 as part of an EUR18.1 billion macro-financial assistance package, which will be repaid using proceeds from frozen Russian assets.
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