G7 countries to provide $19.8 billion in aid to crisis-hit Ukraine

Finance chiefs from the Group of Seven leading economies pledged to deliver $19.8 billion of budget aid to Ukraine this year as the country struggles to continue functioning amid destruction wrought by Russia’s invasion.

“While also addressing Ukraine’s humanitarian and other material needs, we recognize, in particular, Ukraine’s urgent short-term financing needs,” G-7 finance ministers said Friday in a communique following two days of meetings near Bonn.

The amount includes $9.5 billion of commitments made in the run-up to this week’s meeting, “to help Ukraine close its financing gap and continue ensuring the delivery of basic services to the Ukrainian people.”