U.S. and Europe Near $50 Billion Loan Deal for Ukraine

The U.S. and European nations are close to finalizing a $50 billion loan package for Ukraine, backed by Russia’s frozen central bank assets, U.S. Treasury Secretary Janet Yellen announced. The deal is expected to be announced during ongoing talks in Washington at the International Monetary Fund and World Bank meetings.

“This is a way of making Russia bear the cost and the expense of the damage that it’s inflicting on Ukraine,” Yellen said, emphasizing that the funds would support Ukraine as it continues to face Russia's aggression.