US Treasury transfers $20 billion in Ukraine loan funds to World Bank facility

FILE PHOTO: U.S. Treasury Secretary Janet Yellen holds a bilateral meeting with Ukraine Finance Minister Sergii Marchenko on the sidelines of the IMF and WB annual meetings, at the Treasury Department in Washington, U.S., October 23, 2024. REUTERS/Kaylee Greenlee Beal/File Photo

WASHINGTON (Reuters) - The U.S. Treasury Department on Tuesday said it transferred the $20 billion U.S. portion of a $50 billion G7 loan for Ukraine to a World Bank intermediary fund for economic and financial aid to the war-torn country.

The Treasury Department said the disbursement makes good on its October commitment to match the European Union's commitment to provide $20 billion in aid backed by frozen Russian sovereign assets alongside smaller loans from Britain, Canada and Japan to help the Eastern European nation fight Russia's invasion.