Ukraine receives another tranche of EUR 1B from EU under ERA initiative

The relevant statement was made by the Ukrainian Finance Ministry, an Ukrinform correspondent reports.

“The funds will enable the financing of priority state budget expenditures in the social and defense sectors, support macroeconomic stability, and help restore critically important infrastructure. This is a crucial and timely investment in strengthening Ukraine’s financial resilience, enhancing our ability to resist the aggressor, and ensuring the proper functioning of essential public services,” Ukrainian Finance Minister Sergii Marchenko noted.

Overall, the ministry has already attracted EUR 8 billion from the EU under the ERA initiative.

A reminder that the G7 Extraordinary Revenue Acceleration for Ukraine (ERA) initiative envisions providing Ukraine with USD 50 billion, secured by future proceeds from frozen Russian assets. The EU’s contribution amounts to EUR 18.1 billion (USD 20 billion).

Since February 2022, the European Union had been the largest provider of direct budgetary support to Ukraine, with a total of EUR 53.5 billion allocated for the country’s priority state budget expenditures.