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G7 states clear way for $9.5 billion in aid to warstruck Ukraine

Ukraine is set to get $9.5 billion in short-term budgetary aid from members of the G7 group of industrialized nations, after a meeting of the club's finance ministers in Germany.

Königswinter, 20 May 2022 (dpa/MIA) – Ukraine is set to get $9.5 billion in short-term budgetary aid from members of the G7 group of industrialized nations, after a meeting of the club’s finance ministers in Germany.

That means total financial aid to the country this year has hit $19.8 billion from the G7. The money is to be used to close financial gaps and maintain operations as it fights off a Russian invasion.

It was not clear if the money would be entirely made up of grants, or if there would be some loans.

“We will stand by Ukraine during this war and after that and are ready to do more,” said German Finance Minister Christian Lindner, who hosted the meeting.

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