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US disburses $20 billion Ukraine loan to World Bank fund

Photo by Elijah Mears / Unsplash

The US Department of Treasury said on Tuesday it has allocated to a World Bank fund a $20 billion loan to benefit Ukraine, as part of the $50 billion package by the G7 group of countries backed by profits from frozen Russian assets.

"These funds — paid for by the windfall proceeds earned from Russia's own immobilized assets — will provide Ukraine a critical infusion of support as it defends its country against an unprovoked war of aggression," US Treasury Secretary Janet Yellen said.

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