Official Brussels has transferred a loan tranche of one billion euros to Ukraine under the "Emergency Loan in Support of Ukraine" (ERA) initiative, which is provided by proceeds from frozen Russian assets.
Points of attention
- Ukrainian authorities, led by Denys Shmyhal, have stressed the significance of complete confiscation of frozen Russian assets to serve as a vital resource for the country's rebuilding efforts.
- The collaboration between Ukraine and the European Union, along with support from the G7 mechanism, highlights the commitment to bolstering Ukraine's infrastructure and economy during challenging times.
What is known about the new EU aid for Ukraine?
The new official decision was announced to Brussels by the head of the Ukrainian government, Denys Shmyhal.
He drew attention to the fact that the funds came within the framework of the G7 mechanism and were provided by proceeds from frozen Russian assets.
According to the head of the Cabinet of Ministers, this money will be directed to priority expenditures of the state budget of Ukraine.
What is important to understand is that in total, under the ERA program, European allies provided Ukraine with 5 billion euros
During negotiations with European Commissioner Valdis Dombrovskis in Brussels, Denys Shmyhal reiterated once again that the priority of the Ukrainian authorities is the complete confiscation of frozen Russian sovereign assets, which should be used as a resource for the reconstruction of Ukraine.
On the same day, it became known that the European Investment Bank is providing Ukraine with 300 million euros to restore energy and critical infrastructure.
