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Ukraine receives first $1 billion as part of US batch of frozen Russian assets profits

  • Ukraine has received $1 billion from the United States in profits from frozen Russian assets, Prime Minister Denys Shmyhal said on Dec. 24.
  • This is the first tranche of the planned $20 billion that the U.S. Intends to provide as part of the G7 initiative.
  • The funding supports systemic reforms in Ukraine and is linked to the World Bank's second Growth Foundation Development Policy Loan.
  • Ukraine's Minister of Finance Serhii Marchenko stated: 'For the first time, Ukraine is receiving funds financed by proceeds from the frozen assets of Russia.
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