Germany to Provide €50 Billion Loan for Ukraine’s Large-Scale Weapon Purchases

German Chancellor Olaf Scholz announced that Germany will continue its support for Ukraine by pursuing an additional loan of 50 billion euros from the Group of Seven (G7). Scholz’s remarks were shared through the publication ZMI, highlighting Germany’s ongoing commitment to aiding Ukraine.

In a statement on Twitter (X), Scholz emphasized that Germany remains one of Ukraine’s most significant European supporters. “We will maintain our support by seeking an additional loan of 50 billion euros from the G7. This funding will enable Ukraine to acquire extensive armor and other resources,” Scholz wrote.

Previously, Bild and Frankfurter Allgemeine Zeitung reported on Germany’s potential plans to halt military assistance to Ukraine starting in 2025. According to FAZ, both Chancellor Scholz and Finance Minister Christian Lindner have frozen all new funding requests.

Heorhii Tykhyi, a spokesperson for the Ministry of Foreign Affairs of Ukraine criticized these reports as being misleading.

The Ministry of Finance noted that assistance from the Federal Reserve Fund would likely be redirected to international programs. It is anticipated that the G7's decision could involve providing Ukraine with loans derived from frozen Russian assets.

On August 19, Germany announced a new military aid package for Ukraine. According to a statement from the German government, this package includes various military components, including an IRIS-T air defense system and other resources.