Today, the Ministry of Finance of Ukraine has attracted EUR 3 billion to the State Budget from the European Union. The funds are part of the EU’s contribution under the G7 Extraordinary Revenue Acceleration for Ukraine (ERA) initiative.

The ERA envisages USD 50 billion to be allocated to Ukraine, which will be secured by future revenues from russian frozen assets. The EU’s contribution is EUR 18.1 billion (USD 20 billion).

The funds from the European Union are expected to be disbursed in installments until the end of 2025.

The frozen assets of russia’s central bank in the EU amount to EUR 210 billion and constitute the majority of such frozen assets worldwide, according to the official EU data. Depending on the level of interest rates, the income from these assets is currently estimated at EUR 2.5-3 billion per year.

“The funds will enable Ukraine to finance priority State Budget expenditures in the social and military sectors, support macroeconomic stability, and restore critical infrastructure. This is a necessary and timely investment in sustaining Ukraine’s financial stability, enhancing the ability to effectively counter the enemy on the front lines, and ensuring the functioning of the social sector. I am grateful to our EU partners for implementing a mechanism that compels russia to pay for the damage it has inflicted on Ukraine,” said Minister of Finance of Ukraine Sergii Marchenko.