Ukraine received the first tranche from the EU at the expense of frozen assets of the Russian Federation
The state budget of Ukraine received 3 billion euros from the European Union as part of the ERA initiative. This is the first tranche secured by revenues from frozen Russian assets, informs Prime Minister of Ukraine Denys Shmyhal.
“This is the first tranche of funds from the European Union, which are secured by revenues from Russian frozen assets. Ukraine will direct this resource to priority budget expenditures.”, says the message.
In general, the G7 ERA initiative provides Ukraine with $50 billion, of which the EU will allocate $20 billion. In this way, the “Russia will pay” program is implemented, which helps to strengthen the financial stability of Ukraine in 2025.
It will be recalled that in December last year, Ukraine received $1 billion from the United States, which was also secured by income from frozen Russian assets. This was the first tranche of $20 billion that the US plans to provide as part of the G7 initiative.
Earlier, Ukraine received $1 billion from Japan and Great Britain as part of the DPL program. This financing includes $567 million in guarantees from the Japanese government through the Credit Support Trust Fund and $483 million in guarantees from the UK government. The funds are aimed at strengthening the economy of Ukraine and covering priority social and humanitarian expenses.
