G7 Countries Increase Financial Assistance To Ukraine To USD 44 Billion

The volume of international commitments on economic and budgetary support for Ukraine for 2023 and the beginning of 2024 increased to USD 44 billion. This is indicated in a statement adopted following a meeting of finance ministers and heads of central banks of G7 countries in Japan.

"Together with the international community, we have increased our commitment to budget and economic support for Ukraine for 2023 and the beginning of 2024 to USD 44 billion, which allowed us to approve the International Monetary Fund program for Ukraine in the amount of US USD 15.6 billion for 4 years," the statement said.

It is noted that this support gives Ukraine confidence and allows the authorities to ensure the functioning of the government, continue providing basic services, carry out the most important repairs to damaged infrastructure and stabilize the economy.

"We hope that Ukraine's rapid implementation of structural reforms in the framework of the IMF-supported program, and the successful completion of the program's revisions, will contribute to macroeconomic and financial stabilization, improved governance and strengthening of institutions and long-term economic sustainability and post-war reconstruction. It will also facilitate further financial support from other countries and institutions as well as the private sector," the statement said.