On July 10, the Ministry of Finance of Ukraine attracted 1 billion euros from the European Union to the state budget. This is the sixth tranche of macro-financial assistance under the G7 Extraordinary Revenue Acceleration for Ukraine (ERA) initiative.
Points of attention
- The recent €1 billion tranche from the EU to Ukraine under the ERA initiative is a significant investment for the country's financial stability.
- These funds will help prioritize spending on social and military needs, contribute to maintaining macroeconomic stability, and aid in the restoration of critical infrastructure.
- The ERA initiative plans to allocate $50 billion to Ukraine from future revenues from frozen Russian assets, with the EU's contribution amounting to 18.1 billion euros ($20 billion).
Ukraine received another 1 billion euros from the EU from profits from frozen Russian assets
This was reported by the Ministry of Finance of Ukraine.
The funds will allow financing priority state budget expenditures in the social and military areas, supporting macroeconomic stability, and restoring critical infrastructure. This is an important and timely investment in strengthening Ukraine's financial stability, strengthening our ability to counter the aggressor, and ensuring the proper functioning of social services. I am grateful to our EU partners for implementing this mechanism," said the Minister of Finance of Ukraine, Serhiy Marchenko.
The Ministry of Finance recalled that the ERA provides for the allocation of $50 billion to Ukraine, which will be provided by future revenues from frozen Russian assets.
The EU contribution is 18.1 billion euros ($20 billion).
In total, within the framework of the ERA initiative, the Ministry of Finance has already attracted 8 billion euros from the European Union.
As a reminder, on June 13, Ukraine received the fifth tranche from the European Union in the amount of 1 billion euros under the ERA initiative.
