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G7 agrees $50bn loan for Ukraine from Russian assets

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The G7 Summit was held in Puglia Italy [Pic BBC]

The G7 has agreed to use frozen Russian assets to raise $50bn (£39bn) for Ukraine to help it fight invading Russian forces.

US President Joe Biden said it was another reminder to Russia “that we’re not backing down”, but Moscow has threatened “extremely painful” retaliatory measures.

The money is not expected to arrive until the end of the year but is seen as a longer-term solution to support Ukraine’s war effort and economy.

Also at the G7 summit in Italy, Ukrainian President Volodymyr Zelensky and Mr Biden signed a 10-year bilateral security deal between Ukraine and the US, hailed by Kyiv as “historic”.  The agreement envisages US military and training aid to Ukraine – but it does not commit Washington to send troops to fight for its ally.

Some $325bn worth of assets were frozen by the G7, alongside the EU, following Russia’s full-scale invasion of Ukraine in 2022. The pot of assets is generating about $3bn a year in interest.  Under the G7 plan, that $3bn will be used to pay off the annual interest on the $50bn loan for the Ukrainians, taken out on the international markets.

Speaking at a joint news conference at the summit’s venue in Puglia, southern Italy, President Biden said the $50bn loan would “put that money to work for Ukraine and send another reminder to [Russian President Vladimir] Putin that we’re not backing down”. The US leader stressed that the Mr Putin “cannot wait us out, he cannot divide us, and we’ll be with Ukraine until they prevail in this war”.

President Zelensky thanked his American and other allies for their unwavering support.

And referring to the new security deal, he said: “It’s a truly historic day and we have signed the strongest agreement within Ukraine and the US since our independence [in 1991]”.

The G7 group of rich nations, Canada, France, Germany, Italy, Japan, the UK and US, have been important financial and military supporters of Ukraine as it battles to contain occupying Russian forces.

Other G7 leaders also hailed the $50bn loan deal, with UK Prime Minister Rishi Sunak describing it as “game changing”.

Most of the frozen assets of the Central Bank of Russia are being held in Belgium.  Under international law, countries cannot confiscate those assets from Russia and give them to Ukraine.

Several hours before the G7 decision was announced, Russian Foreign Ministry spokeswoman Maria Zakharova warned that there would be “extremely painful” retaliatory measures.

[BBC]



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Navy intercepts craft with packages suspected to be narcotics

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A special naval operation at sea led to the interception of a craft with packages suspected to be narcotics.

More details regarding the incident will be released as they become available.

(Navy Media)

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Establish a clean local governance system that utilizes budget allocations transparently for rural development – Prime Minister

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Prime Minister Dr. Harini Amarasuriya emphasized the need to create a clean and transparent local governance system that effectively utilizes budget allocations for the development of the rural sector.

The Prime Minister made these remarks on Friday (11), while addressing a public gathering held in Karainagar, Jaffna.

Elaborating further, Prime Minister Dr. Harini Amarasuriya stated:

“This country is rich in cultures and traditions and inherits a proud and prosperous history.

I was deeply moved by the information I received about Karainagar. In 1977, around 80,000 people lived in Karainagar. Unfortunately, today it has dropped to 10,500. What happened to the rest of the people? I also learned that Karainagar is home to some of the most educated and affluent people in the Northern Province. That is remarkable, but the issue is that in order to become educated and affluent, they were forced to leave Karainagar.

Who speaks up for those who could not leave? They are citizens of this country. They are entitled to have equal rights like everyone else does. As the Minister of Education, I looked into the education system in Karainagar. I discovered that there are only two schools offering GCE Advanced Level education, with only two teachers in total. Further, all students who have passed the Grade 5 scholarship exam leave Karainagar to Jaffna for further education.

Throughout the years, there were changes in governments, presidents, national administrations, members of parliament representing this area, local governments, and provincial councils but what have they done to uplift the education of Karainagar?

Education increases the value and prosperity of people. Education is vital as such. However, for decades, the right to quality education has been denied in this region. In addition, there is a severe water issue in Karainagar. Access to clean drinking water which is a basic necessity, comes at a cost to the people in this area. Various projects launched to provide drinking water have never been completed due to corruption.

Further, roads, transport, and many other services have deteriorated due to corruption at the local level. It has been 16 years since the war ended yet what has changed since then? Why have these issues not yet been resolved? That is why the upcoming local government elections are crucial. Problems at the local level must be addressed by local government institutions.

About a month ago, the first budget of the government has been passed.

A significant allocation has been made from all local government accounts for education, health, public welfare, infrastructure, and public transportation but these funds must be spent wisely.

For that, local governments should be governed by clean and corruption-free environment. Therefore, in this election, we must elect people who are free from corruption and dedicated to the purpose of serving the public. In 2024, the people of this country made a decision to change the political culture. On May 6, they will once again have the opportunity to make a thoughtful decision for the betterment of their villages.”

During the event, Minister of Fisheries . Ramalingam Chandrasekar also shared his views:

“Today, the political morality we expected for has taken root in this country. Unlike the governance of previous governments, the representatives of the current government are not exercising the power to enrich themselves and some even do not hesitate to return their salaries for serving the general public.

Today, the public service receives higher salaries, and the government is taking possible decision for the benefit of the people.”

The event was attended by Members of Parliament Shri Bhavan and Ilayankumar, along with other public representatives and candidates contesting in the local government elections.

[Prime Minister’s Media Division]

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Warm Weather Advisory issued for Eastern and Uva provinces and Polonnaruwa and Mullaitivu districts.

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Warm Weather Advisory
Issued by the Natural Hazards Early Warning Centre of the Department of Meteorology for 12th  April 2025.

The public are warned that the Heat index, the temperature felt on human body is likely to increase up to ‘Caution level’ at some places in Eastern and Uva provinces and Polonnaruwa and Mullaitivu districts

The Heat Index Forecast is calculated by using relative humidity and maximum temperature and this is the condition that is felt on your body. This is not the forecast of maximum temperature. It is generated by the Department of Meteorology for the next day period and prepared by using global numerical weather prediction model data.

Effect of the heat index on human body is mentioned in the table below and it is prepared on the advice of the Ministry of Health and Indigenous Medical Services.

ACTION REQUIRED

Job sites: Stay hydrated and takes breaks in the shade as often as possible.
Indoors: Check up on the elderly and the sick.
Vehicles: Never leave children unattended.
Outdoors: Limit strenuous outdoor activities, find shade and stay hydrated. Dress: Wear lightweight and white or light-colored clothing.

Note:
In addition, please refer to advisories issued by the Disaster Preparedness & Response Division, Ministry of Health in this regard as well. For further clarifications please contact 011-7446491.

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