Ministry of Finance attracted €1 billion from the EU – the sixth tranche of Macro-Financial Assistance backed by frozen russian assets

Today, the Ministry of Finance of Ukraine attracted EUR 1 billion to the State Budget from the European Union. The funds are part of the EU’s contribution under the G7 initiative Extraordinary Revenue Acceleration for Ukraine (ERA).

The ERA initiative envisions providing Ukraine with USD 50 billion, secured by future revenues generated from frozen russian assets. The EU’s contribution amounts to EUR 18.1 billion (USD 20 billion).

In total, under the ERA initiative, the Ministry of Finance has already attracted EUR 8 billion from the European Union.

“The funds will enable the financing of priority State Budget expenditures in the social and defense sectors, support macroeconomic stability, and help restore critically important infrastructure. This is a crucial and timely investment in strengthening Ukraine’s financial resilience, enhancing our ability to resist the aggressor, and ensuring the proper functioning of essential public services. I am grateful to our EU partners for implementing this mechanism,” said Minister of Finance of Ukraine Sergii Marchenko.

It is worth noting that since February 2022, the European Union has been the largest provider of direct budgetary support to Ukraine, with a total of EUR 53.5 billion allocated for priority State Budget needs.