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G7 nations commit $32 billion in financial support for Ukraine

by The Kyiv Independent news desk December 22, 2022 6:19 PM 1 min read
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The Group of Seven (G7) of the world’s largest democracies has pledged to provide further budgetary and financial support for Ukraine in the coming year, according to a statement issued by the group’s finance ministers on Dec. 22.

The statement, published by the German government, revealed that the G7 has mobilized up to $32 billion for helping Ukraine in 2023 and will continue to make further progress.

This year, the G7 provided Ukraine with $32.7 billion in budget support, with $18 billion coming from the European Union.

“We also strongly encourage other donors to step up their support,” the finance ministers said.

The G7 emphasized the importance of supporting Ukraine in the face of Russia’s “unprovoked assault,” saying, “we have a moral imperative to help Ukraine resist.”

“We are prepared to do more as needed on budget and economic support for Ukraine,” the finance ministers added.

In mid-December, the G7 agreed to create a joint platform to coordinate both long and short-term support provided to Ukraine amid Russia’s invasion. The countries also promised to provide Kyiv with more air defense systems amid Moscow’s large-scale missile attacks.

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