KYIV, June 12 - President Joe Biden and President Volodymyr Zelenskyy will sign a bilateral security agreement between the U.S. and Ukraine on Thursday when they meet on the sidelines of the Group of Seven summit in Italy.

Negotiators for the group have also reached an agreement on how to provide Ukraine with up to $50 billion backed by frozen Russian assets.

The international group of wealthy democracies has been discussing ways of using the more than $260 billion in frozen Russian assets, most of which are outside the country, to help Ukraine fight Russian President Vladimir Putin’s war machine.

European officials have resisted confiscating the assets, citing legal and financial stability concerns, but the plan would use the interest earned on the assets to help Ukraine’s war effort. An official with the French presidency confirmed the agreement Wednesday, saying most of the money would be flowing to Ukraine in the form of a loan from the U.S. government backed by the proceeds of the frozen Russian assets in the European Union. Two other people familiar with the matter confirmed the arrangement.

Final technical negotiations were underway ahead of the summit to finalize the legal terms of the deal.

The announcement of the agreement comes as Biden landed in Italy with an urgency to get big things done. Thursday’s security arrangement was aimed to send a signal to Russia of American resolve in supporting Kyiv, the White House said.

National security adviser Jake Sullivan said the security agreement would not commit U.S. troops directly to Ukraine’s defense against Russia’s invasion — a red line drawn by Biden, who’s fearful of being pulled into direct conflict between the nuclear-armed powers.

“We want to demonstrate that the U.S. supports the people of Ukraine, that we stand with them and that we’ll continue to help address their security needs,” Sullivan said, adding “this agreement will show our resolve.”

Sullivan said aboard Air Force One that the goal of the financing plan was to have a loan that would “pull forward the windfall profits from the seized assets” of Russia, giving Ukraine a “substantial source of funding” to meet its immediate needs.

The national security adviser said he had a specific sum of money in mind, but declined to say if that figure was $50 billion. He stressed the urgency of getting Ukraine financial resources as soon as possible and that multiple countries would back the agreement.

“It’s to provide the necessary resources to Ukraine now for its economic energy and other needs, so that it’s capable of having the resilience necessary to withstand Russia’s continuing aggression,” Sullivan said.

Biden and Zelenskyy, who met last week in Paris, are expected to hold a joint news conference while meeting at the G7 summit. Biden is also expected to meet with Italian Prime Minister Giorgia Meloni, the pope and other leaders.

Biden, who’s been adamant “we will not walk away” from Ukraine, last week publicly apologized to Zelenskyy for a monthslong delay by Congress in authorizing additional American military assistance. The delay allowed Russia to make gains on the battlefield.

Sullivan called the security agreement a “bridge” to when Ukraine is invited to join the NATO alliance — a long-term priority of Zelenskyy’s that the allies have said will first require an end to the Russia-Ukraine war and that Putin has steadfastly opposed. (ap/ez)