Today, the State Budget of Ukraine received the second tranche from the European Union in the amount of one billion euros within the framework of the G7 Extraordinary Revenue Acceleration for Ukraine (ERA) initiative.
This money will go to the restoration of our state, including its infrastructure, UNN writes with reference to the Ministry of Finance.
The Ministry of Finance reported that these funds make it possible to meet priority social, military needs and restore our state. In particular, we are talking about the reconstruction of critical infrastructure.
I am grateful to the EU countries for supporting the ERA mechanism and, in particular, for the next tranche of 1 billion euros. This year, we expect to attract the entire amount of funds from the EU, which will allow us to meet Ukraine's budgetary needs in 2025-2026. Our next priority is the full confiscation of frozen Russian sovereign assets. These funds should become an instrument for the reconstruction of Ukraine
Details
ERA envisages the allocation of 50 billion dollars to Ukraine, of which the EU contribution is 20 billion. Ukraine received the first tranche of three billion euros in January of this year.
Frozen assets of the Central Bank of Russia in the EU total 210 billion euros, and, according to official EU data, constitute the majority of such immobilized assets worldwide.
The Ministry of Finance also stressed that the European Union has been the largest provider of direct budget support to Ukraine since February 2022 – 46 billion euros for priority state budget expenditures.
Addition
Earlier, we wrote that the European Commission provides Ukraine with one billion euros as part of its share of the G7 initiative on a loan to be repaid from proceeds from frozen Russian assets.
Also, the EU Council approved the third tranche to Ukraine in the amount of almost 3.5 billion euros within the framework of the Ukraine Facility instrument.