KIEV, Dec. 24 (Xinhua) -- Ukraine received 1 billion U.S. dollars in financial aid from the United States, backed by frozen Russian assets, Ukrainian Prime Minister Denys Shmyhal announced on Tuesday.
"This is the first tranche of the planned 20 billion dollars that the U.S. is prepared to allocate through the use of frozen Russian assets," Shmyhal said in a post on Telegram.
The Ukrainian Finance Ministry later clarified that the funds were provided as a grant aid under the World Bank's Second Growth Foundation Development Policy Loan (DPL).
The U.S. assistance is part of a broader commitment made by the Group of Seven (G7) countries, which envisages 50 billion dollars in support for Ukraine secured using proceeds from immobilized Russian assets.
The G7 countries have frozen about 300 billion dollars of Russian assets in the wake of the Russia-Ukraine conflict, according to media reports.
