G7 finance ministers plan € 15B in aid for Ukraine

The finance ministers of the Group of Seven economic powers want to put together a 15 billion euro ($15.80 billion) aid package for Ukraine at their meeting in Bonn this week, a senior German government official said, Report informs, citing Reuters.

The package would cover three months, with a short-term financing arrangement mainly in the form of grants, which unlike loans do not have to be repaid, the official said, adding that the aid was needed because Ukraine's revenues have collapsed.

The United States had already offered to contribute half of the aid in the form of grants worth $7.5 billion, the official stated, adding that the G7 ministers wanted to agree a joint communique at their meeting.