Ukraine receives CAD 2.5 bln as part of G7 ERA initiative

14:11, 13.03.2025 1 min read

Ukraine received CAD 2.5 billion (about $1.7 billion) as part of the G7 Extraordinary Revenue Acceleration (ERA) initiative, Prime Minister Denys Shmyhal said.

"The funds, secured by revenues from frozen Russian assets, will be directed to the priority needs of the state budget," Shmyhal wrote on the Telegram channel.

According to him, this is the first tranche from Canada, which has allocated a total of CAD 5 billion for the ERA, which provides for the allocation of financial resources to Ukraine from the profits from frozen Russian assets.