The U.S. Treasury Department on Tuesday executed the transfer of its $20 billion share of a massive $50 billion G7 loan to Ukraine.
The funds, routed through a World Bank intermediary called the Facilitation of Resources to Invest in Strengthening Ukraine Financial Intermediary Fund (FORTIS Ukraine FIF), aim to bolster Ukraine’s economic stability amid its ongoing conflict with Russia, according to Reuters. This move ensures the full amount is dedicated to non-military purposes and aligns with a prior commitment made in October to parallel the European Union’s hefty $20 billion pledge.
The comprehensive package includes contributions from Britain, Canada and Japan, utilizing frozen Russian sovereign assets to sustain Ukraine’s defense against Russia’s aggressive incursion that commenced in February 2022, AP reported. Treasury Secretary Janet Yellen spearheaded the $20…
