Today, Ukraine has received the second tranche of EUR 1 billion from the EU under the G7 Extraordinary Revenue Acceleration for Ukraine (ERA) initiative.

In total, the Ministry of Finance has already attracted EUR 4 billion from the European Union under the ERA initiative.

The funds help to meet the priority social and military needs, as well as to restore critical infrastructure.

The ERA provides for a total of USD 50 billion to Ukraine, of which the EU’s contribution is EUR 18.1 billion (USD 20 billion). Ukraine received the first tranche of EUR 3 billion in January this year.

“I am grateful to the EU countries for their support of the ERA mechanism and, in particular, for the next tranche of EUR 1 billion. This year, we expect to attract the entire amount of funds from the EU, which will allow us to meet Ukraine’s budgetary needs in 2025-2026. Our next priority is the complete confiscation of frozen russian sovereign assets. These funds should become a tool for Ukraine’s recovery,” said Sergii Marchenko.

The frozen assets of the russian central bank in the EU amount to EUR 210 billion and constitute the majority of such immobilized assets worldwide, according to official EU data.

The European Union has been the largest provider of direct budgetary assistance to Ukraine since February 2022, with EUR 46 billion for priority State Budget expenditures.