The $50 billion loan to Ukraine will not be financed by the European Union, states Italian Prime Minister Giorgia Meloni.
According to Meloni, the funds will be provided by the United States, Canada, the United Kingdom and possibly Japan.
"Right now, European countries are not intervening because all the assets are mobilized in Europe. Europe is already contributing by adopting a guarantee mechanism," Meloni told reporters.
Background
Yesterday, June 13, during the summit, the G7 leaders approved a $50 billion loan to Ukraine secured by frozen Russian assets. The details of the new loan program were not previously known.
However, Ukrainian Finance Minister Serhii Marchenko noted that Ukraine had also set conditions.
Read what else is known about the loan for Ukraine and when the money will be disbursed in RBC-Ukraine's article.