Yellen Says US, G7 Partners Close to Finalizing $50 Billion Loan for Ukraine

Treasury Secretary Janet Yellen announced on Oct. 22 that the United States and its partners in the Group of Seven (G7) nations are closing in on a final plan to lend as much as $50 billion to Ukraine, which is fighting a Russian invasion. The G7 nations—the United States, Canada, France, Germany, Italy, Japan, and the UK—reached a tentative plan in June to provide $50 billion in new loans to Ukraine using frozen Russian assets as collateral. The U.S. contribution to this loan plan is expected to be about $20 billion. “We’re very close to finalizing America’s portion of this $50 billion loan package,” Yellen said at a news conference kicking off the International Monetary Fund and World Bank annual meetings....