Govt plans to partially finance eRecovery at expense of ERA loan - Shmyhal

16:58, 04.03.2025 1 min read

The Ukrainian government is working on the possibility of using part of the Extraordinary Revenue Acceleration (ERA) loan from the G7 countries totaling $50 billion to finance the eRecovery compensation program for housing destroyed by the war, Prime Minister Denys Shmyhal said.

"Today we are actively working on using part of the ERA loan of $50 billion to compensate people for their lost housing," Shmyhal said at a press conference in Kyiv on Tuesday.

According to the prime minister, more than UAH 30 billion in compensation has been accrued to date: UAH 8 billion for damaged housing, UAH 22 billion for destroyed housing.

He noted that the compensation is being made at the expense of confiscated Russian assets both in Ukraine and abroad.

As reported, within the framework of the ERA mechanism of the G7 countries, Ukraine has already received $1 billion from the US and EUR3 billion from the EU.