The state budget of Ukraine has received EUR 3 billion from the EU under the G7 Extraordinary Revenue Acceleration Loans for Ukraine (ERA) initiative.
This is the first tranche of funds from the European Union secured by the proceeds of frozen Russian assets, Prime Minister Denys Shmyhal said.
In total, the G7 ERA initiative provides for $50 billion to be allocated 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 thank our partners for their continued support and solidarity,” Shmyhal emphasized.