Financial aid from G7 countries: “Ukraine’s liquidity is secure”

Status: 20.05.2022 5:53 p.m.

The G7 countries have again pledged nearly ten billion dollars in financial aid to Ukraine. Finance Minister Lindner said the money would guarantee Ukraine’s liquidity. Funds should be available quickly.

At their meeting in Koenigswinter near Bonn, the G7 finance ministers agreed on billions more in aid to stabilize the Ukrainian state budget. According to the joint final statement, these now total 19.8 billion US dollars (approximately 18.7 billion euros) for the current year, of which 9.8 billion dollars were newly committed during the meeting. . This ensures “that Ukraine is financially viable for the foreseeable future”, said Federal Finance Minister Christian Lindner.

As announced yesterday, Germany is contributing €1 billion to the newly committed funds. These have since been incorporated into the federal budget by the Budget Committee. The International Monetary Fund (IMF) will manage and disburse the funds, Lindner said. Like the World Bank and the European Bank of Reconstruction EBRD, the latter is also involved in liquidity support itself.

“We support Ukraine quickly and comprehensively”

Lindner stressed that the money will be provided in addition to humanitarian or military support to Ukraine and will be used “to fund state activities in Ukraine.” It should be available quickly and cover the foreseeable need for the current year for the time being. “We support Ukraine quickly and comprehensively”, underlined the Federal Minister of Finance at the end of the G7 ministerial deliberations. “Their liquidity is secure.” The country’s financial situation should not limit its ability to act militarily and defend itself against the Russian attack.

G7 finance ministers meeting: billions in aid to Ukraine and discussion on how to fight inflation

Tagesschau 8 p.m., Nicole Kohnert, ARD Berlin, currently Königswinter, May 20, 2022

Lindner sent a stern warning to Russia, also regarding cooperation in the broader group of G20 countries. “Anyone who criminally tramples the values ​​of the global community cannot rely on cooperation at the same time,” the minister said. In the context of its war of aggression against Ukraine, Russia “cannot count on being a member of the global community like any other, even at the G20 level”.

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