G-7 finance chiefs boost Ukraine aid to $44B

The Group of Seven finance chiefs put more aid on the table for Ukraine, set up a new supply chain initiative, and vowed to fill regulatory gaps in the banking sector in a show of unity on global geo-economic issues after three days of talks, Report informs, citing Bloomberg.

“We are strongly committed to continue addressing Ukraine’s urgent short-term financing needs, as well as supporting its neighboring and other severely affected countries. We, together with the international community, have increased our commitment of budget and economic support for Ukraine for 2023 and early 2024 to 44 billion US dollars, which enabled the approval of an International Monetary Fund (IMF) program for Ukraine amounting to 15.6 billion US dollars over 4 years,” they said in a statement following their gathering in Niigata, Japan.