On October 1, Ukraine received a EUR 4-billion tranche from the European Union under the G7 Extraordinary Revenue Acceleration for Ukraine (ERA) initiative.
In total, within the ERA instrument, the Ministry of Finance has already attracted EUR 14 billion from the EU, out of the EUR 18.1 billion foreseen. The remaining funds are expected to be received by Ukraine from the EU until the end of 2025.
The financing raised may be directed to priority State Budget expenditures in the social sector, defense, and recovery.
“Since February 2022, the European Union has been the largest provider of direct budgetary support to Ukraine – EUR 62.5 billion. The ERA funds have become an important tool to meet budgetary needs in 2025. I am grateful to the European Commission for understanding Ukraine’s needs and for its proactive stance on this matter. The issue of further use of frozen russian assets for Ukraine’s needs remains on the agenda in meetings with European colleagues,” said Sergii Marchenko. (Government portal)