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Scholz: €50bn loan from G7 to allow Ukraine to buy weapons on massive scale

This is the interest on frozen Russian assets. It was not previously known what exactly this €50 billion would be used for. 

Scholz: €50bn loan from G7 to allow Ukraine to buy weapons on massive scale
Federal Chancellor of Germany Olaf Scholz
Photo: EPA/UPG

German Chancellor Olaf Scholz has said that a €50bn loan from the Group of Seven (G7) by the end of this year will allow Ukraine to ‘buy weapons on a massive scale’.

He wrote about this on the X platform. 

‘Germany is and remains the strongest supporter of Ukraine in Europe. And we are continuing our support with a €50 billion loan that we are launching with the G7. This allows Ukraine to buy weapons on a massive scale. It can count on it,’ Scholz wrote.

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