"Our aim is to begin disbursing the funds by the end of the year," G7 leaders announced on Oct. 25. The loan will support Ukraine's economic, defense, and reconstruction needs.

The Group of Seven (G7) has reached an agreement to provide Ukraine with approximately $50 billion in loans backed by the revenue from foreign Russian assets, the G7 announced on Oct. 25.

“Our aim is to begin disbursing the funds by the end of the year,” a statement from the G7 leaders read.

During the G7 summit in Italy in June, G7 leaders publicly confirmed an agreement on the plan to provide Ukraine with a $50 billion loan. Officials said shortly thereafter that the plan would be finalized in October.

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