G7 leaders agree to deliver $50 bln in loans to Ukraine as soon as December
G7 agrees details for bilateral loans to Ukraine
Loans to be repaid by earnings from frozen Russian assets
Disbursements can start as early as Dec 1, run through 2027
Loans to be administered through EU, IMF, World Bank facilities
US aims to transfer Ukraine loan funds in December
Adds G7 finance ministers statement
By Angelo Amante and David Lawder
ROME/WASHINGTON, Oct 25 (Reuters) - Leaders of the Groupof Seven wealthy democracies on Friday reached consensus on deliveryof some$50 billion in loansto Ukraine backed by the earnings from frozen Russian sovereign assets starting as early as December.
"These loans will be serviced and repaid by future flows of extraordinary revenues stemming from the immobilization of Russian Sovereign Assets," the G7 statement said.
"Our aim is to begin disbursing the funds by the end of the year," said the statement, which was released as global finance chiefs were meeting in Washington for the International Monetary Fund and World Bank annual meetings.
An accompanying statement from G7 finance ministers said that the loans would be disbursed through a series of bilateral loans, starting as soon as Dec. 1 and continuing through the end of 2027 "in installments that will reflect Ukraine’s urgent financing needs."
Each bilateral loan would enter into force no later than June 30, 2025, which provides some timing flexibility for G7 members to arrange details.
The statement announcing the principles and some technical details did not provide specific amounts for the bilateral loans but said additional details will be issued in a term sheet to be distributed in coming days.
ELECTION TIMING
The U.S. on Wednesday announced it would give Ukraine a $20 billion loan during December, timing meant to shield the loan funds from a potential claw-back should Republican presidential candidate Donald Trump win the November U.S. election.
Trump has vowed to "get out" of Ukraine's war with Russia. The next U.S. president would not take office until January.
Another $20 billion loan is expected to come from the EU, home to G7 members Germany, France and Italy, with the remaining $10 billion split between Canada, Britain and Japan.
"We will stand by Ukraine for as long as it takes," the finance ministers' statement said.
The loans will be disbursed through multiple channels, including a Macro-Financial Assistance Loan from the EU, the IMF's Multi-Donor Administered Account for Ukraine and a newly created Financial Intermediary Fund for Ukraine at the World Bank, the statement said.
G7 PLEDGE
Friday's announcement of the "extraordinary revenue acceleration loans" makes good on an easement reached in June by G7 leadersduring their annual summit in southern Italy to harness earnings from frozen Russian assets to aid Ukraine, a deal that left many technicaldetails to be hammered out.
Some 260 billion euros ($280.62 billion) in Russian assets such as central bank reserves were frozen under sanctions imposed following Moscow's invasion of Ukraine in February 2022.
The vast majority of those assets are held in Euroclear, a Belgium-based central securities depository, making the European Union a key player in any plan to make use of the assets.
"The G7 remains steadfast in its solidarity to support Ukraine's fight for freedom, and its recovery and reconstruction," the G7 leaders' statementsaid, adding that "time is not on (Russian) President Putin's side."
($1 = 0.9265 euros)
Reporting by Angelo Amante; Writing by Sara Rossi and David Lawder; Editing by Paul Simao and Andrea Ricci
免责声明: XM Group仅提供在线交易平台的执行服务和访问权限，并允许个人查看和/或使用网站或网站所提供的内容，但无意进行任何更改或扩展，也不会更改或扩展其服务和访问权限。所有访问和使用权限，将受下列条款与条例约束：(i) 条款与条例；(ii) 风险提示；以及(iii) 完整免责声明。请注意，网站所提供的所有讯息，仅限一般资讯用途。此外，XM所有在线交易平台的内容并不构成，也不能被用于任何未经授权的金融市场交易邀约和/或邀请。金融市场交易对于您的投资资本含有重大风险。
所有在线交易平台所发布的资料，仅适用于教育/资讯类用途，不包含也不应被视为用于金融、投资税或交易相关咨询和建议，或是交易价格纪录，或是任何金融商品或非应邀途径的金融相关优惠的交易邀约或邀请。
本网站上由XM和第三方供应商所提供的所有内容，包括意见、新闻、研究、分析、价格、其他资讯和第三方网站链接，皆保持不变，并作为一般市场评论所提供，而非投资性建议。所有在线交易平台所发布的资料，仅适用于教育/资讯类用途，不包含也不应被视为适用于金融、投资税或交易相关咨询和建议，或是交易价格纪录，或是任何金融商品或非应邀途径的金融相关优惠的交易邀约或邀请。请确保您已阅读并完全理解，XM非独立投资研究提示和风险提示相关资讯，更多详情请点击 这里。
