Ukraine receives 90% of funds backed by revenues from Russia’s frozen assets – Finance Ministry

Ukraine has received about $45 billion, or 90% of the expected funding backed by revenues from frozen Russian assets.

The Ministry of Finance reported this, according to Ukrinform.

It is noted that during the IMF–World Bank Spring Meetings, the Ministry of Finance team continued a series of meetings with key international partners.

The parties reviewed the current state of Ukraine’s economy and the impact of the full-scale war on public finances.

Finance Minister Sergii Marchenko expressed gratitude to partners for implementing the ERA Loans mechanism, which channels proceeds from frozen Russian assets to support Ukraine.

He stressed the importance of maintaining dynamic and predictable international support as active hostilities continue and Russia keeps inflicting significant damage on Ukraine.

Marchenko also stressed the need to accelerate the creation of a full-fledged mechanism to direct the frozen Russian assets themselves toward Ukraine’s needs. These resources could become a key source of funding for reconstruction, which is expected to exceed $588 billion over the next decade.

Earlier, Ukraine received a tranche from the United Kingdom totaling £752 million (around $1 billion) under the G7 Extraordinary Revenue Acceleration for Ukraine (ERA) mechanism to strengthen the country’s defense capabilities.