EU disburses EUR 1 bln to Ukraine under ERA initiative – Ukrainian PM

14:12, 09.04.2025 1 min read

The European Union has disbursed EUR 1 billion to Ukraine under the Extraordinary Revenue Acceleration (ERA) initiative, Ukrainian Prime Minister Denys Shmyhal announced.

"The EU has transferred EUR 1 billion to Ukraine as part of the ERA initiative. This was announced during our meeting with European Commissioner for Economy and Productivity Valdis Dombrovskis in Brussels. This is the third tranche under the G7-led program funded by windfall revenues from frozen Russian assets. The funds will be directed toward Ukraine's priority state budget expenditures. In total, the EU has provided EUR 5 billion to Ukraine through the ERA initiative," Shmyhal stated via Telegram.

During the meeting, Shmyhal reiterated that Ukraine's priority remains the full confiscation of frozen Russian sovereign assets, which should serve as a resource for Ukraine's recovery.

"We also discussed macroeconomic conditions, the reform agenda, and the rebuilding process. I'm grateful to our partners for their support of Ukraine's economy and its rapid recovery," he added.