Germany pledges Euro 1 billion in grants for Ukraine 

German Finance Minister Christian Lindner announced a contribution of €1 billion ($1.1 billion) for Ukraine’s budget Thursday.

It came during a summit of finance ministers from the Group of Seven (G7) industrialized nations being held near the German city of Bonn.

Germany currently hosts the G7’s rotating presidency. 

The money is set to come out of Germany’s 2022 budget rather than from loans.

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