Ukraine receives another EUR1 bln from EU under ERA initiative – Ministry of Finance

Ukraine on Wednesday received the third tranche from the EU in the amount of EUR 1 billion within the framework of the G7 Extraordinary Revenue Acceleration for Ukraine (ERA) initiative at the expense of frozen Russian assets.

"In total, under the ERA initiative, the Ministry of Finance has already attracted EUR 5 billion from the European Union. The remaining funds are expected to be disbursed in installments by the end of 2025," the Ministry of Finance said in a statement on its website.

The Ministry of Finance recalled that the ERA provides for the allocation of $50 billion to Ukraine, of which the EU contribution is EUR18.1 billion ($20 billion).

As reported, Ukraine received the first tranche of $1 billion under the ERA mechanism at the end of 2024 through the Financial Intermediary Fund created by the World Bank to facilitate the attraction of resources for investment in strengthening Ukraine, to which the United States transferred $20 billion. In March, another $2.35 billion (UAH 97.8 billion) was received from this fund.

In addition, in March, the United Kingdom allocated $970.0 million under the ERA initiative, which goes to defense needs.

European Commissioner for Economy and Productivity Valdis Dombrovskis previously said that the current plan for allocating EU funding to Ukraine under the ERA provides for the continuation of payments of EUR 1 billion each following month, and in December, the last EUR 6 billion in a single tranche.

The updated program with the IMF provides that after $1 billion last year, Ukraine will receive $39.4 billion this year under the ERA initiative, and $2.4 billion next year.

The Ministry of Finance also said that after today's payment, the EU has allocated EUR 8.5 billion to Ukraine's state budget this year – the largest contribution among all donors, and EUR 50.5 billion in total since February 2022.

"I am grateful to our partners for their consistent and predictable support, which strengthens Ukraine's financial resilience. The funding is allocated to priority budget needs," said Finance Minister Serhiy Marchenko.