Group of 7 pledges almost $20B in aid for Ukraine

G7 officials discuss Ukraine aid package.
(Image credit: INA FASSBENDER/AFP via Getty Images)

The Group of 7 economic powers on Friday agreed to a $19.8 billion economic aid package for Ukraine, which is continuing to defend itself against a ruthless Russian-led invasion, The New York Times reports.

The group's financial backing will come in a mix of grants and loans, per the Times. The International Monetary Fund has said Ukraine needs about $5 billion per month to maintain basic government services.

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Brigid Kennedy

Brigid Kennedy worked at The Week from 2021 to 2023 as a staff writer, junior editor and then story editor, with an interest in U.S. politics, the economy and the music industry.