Ukrainian PM: Ukraine receives EUR 1 bln from EU under ERA initiative

11:11, 20.03.2025 1 min read

Ukraine has received EUR 1 billion from the European Union under the ERA (Extraordinary Revenue Acceleration) initiative, Prime Minister Denys Shmyhal announced.

"This marks the second tranche from the EU, funded by revenues generated from frozen Russian assets. The funds will be allocated to priority government budget expenditures. In total, under the G7-led initiative, our European partners have already provided Ukraine with EUR 4 billion," Shmyhal stated on Telegram on Thursday.

He emphasized that frozen Russian assets "must serve the interests of our country. We will continue working towards their full confiscation and redirecting them toward Ukraine's recovery efforts."