The G7, a forum of the West’s most influential economic powers, agreed in October to provide some $50 billion in loans to Ukraine via multiple channels. 

“Today, we deliver €3 billion to Ukraine, the 1st payment of the EU part of the G7 loan. Giving Ukraine the financial power to continue fighting for its freedom – and prevail,” European Commission President Ursula von der Leyen said on the social media platform X on Friday. 

Ukraine’s Prime Minister Denys Shmyhal confirmed the transfer of the funds in a statement on the Telegram app. 

The funding sources agreed upon by the G7 include a Macro-Financial Assistance Loan from the EU, the IMF’s Multi-Donor Administered Account for Ukraine and a newly created Financial Intermediary Fund for Ukraine at the World Bank. 

In December 2024, the U.S. Treasury Department transferred its $20 billion portion of the G7 loan to the World Bank fund.