Ukraine Receives Fifth Tranche of EU Macro-Financial Assistance from Russian Asset Revenues

Ukraine has received another tranche, the fifth, of macro-financial assistance from the European Union amounting to 1 billion euros. Prime Minister Denys Shmyhal noted that these funds will be directed towards financing essential state budget expenditures.

This is reported by AgroReview

“This is already the fifth tranche of macro-financial assistance from the EU under the ERA initiative. The funds raised will be allocated to key state budget expenditures,” he commented on his Telegram channel.

Total Amount of Assistance and Funding Sources

According to the head of government, since the launch of the Extraordinary Revenue Acceleration (ERA) initiative, Ukraine has already received 7 billion euros from the EU. It is noted that these funds are coming from revenues generated by the use of frozen assets of the Russian Federation.

ERA is a joint mechanism of the G7 countries, which aims to provide Ukraine with approximately 50 billion dollars in the form of loans secured by profits from blocked Russian sovereign assets. The goal of this financial instrument is to support the budget, meet military needs, and restore the country’s infrastructure.

International Support and New Agreements

Last week, the Ministry of Finance of Ukraine announced the signing of an agreement with Japan for an additional tranche of assistance amounting to over 3 billion dollars under the ERA mechanism. The Prime Minister thanked international partners for their support and emphasized the importance of joint efforts to rebuild Ukraine.