Ukraine received €3 billion of the first tranche from EU from frozen Russian assets - Shmygal
Kyiv • UNN
The EU has provided Ukraine with the first tranche of €3 billion from frozen Russian assets. The funds will be used for priority budgetary expenditures under the ERA initiative, which provides a total of $50 billion in support.
Ukraine has received the first tranche of €3 billion from the EU, which is secured by proceeds from Russian frozen assets, Ukrainian Prime Minister Denys Shmyhal said on Telegram on Friday, UNN reports.
The state budget of Ukraine has received EUR 3 billion from the EU under the ERA initiative. This is the first tranche of funds from the European Union secured by the proceeds of Russian frozen assets
"Ukraine will use this resource for priority budget expenditures," the Prime Minister said.
In general, he said, the G7 ERA initiative envisages allocating $50 billion to Ukraine, of which $20 billion will be provided by the European Union.
"In this way, we are implementing the principle of "Russia will pay" and strengthening Ukraine's financial stability in 2025. [I am grateful to our partners for their continued support and solidarity," Shmyhal said.
