Another tranche between the ERA initiative and the European Union totaling 1 billion euros will be allocated directly to priority social, military needs, renovation, health care, and critical infrastructure.
As reported by Ukrinform, the Ministry of Finance was informed about this.
“In advance, between the ERA initiative, the Ministry of Finance has already received 4 billion euros from the European Union. The funds allow us to ensure priority social, consumer needs, renewal, health care, critical important infrastructure,” says the informant.
Our immediate priority is the complete confiscation of frozen Russian sovereign assets, said Finance Minister Sergiy Marchenko.
“These cats can become an instrument for the renewal of Ukraine,” he added.
As was reported, on the 20th of February, another tranche of 1 billion euros is available to the state budget of Ukraine within the framework of the G7 Extraordinary Revenue Acceleration for Ukraine (ERA) initiative.
ERA transfers directly to Ukraine 50 billion US dollars, from which EU contributions amount to 18.1 billion euros (20 billion US dollars). Ukraine withdrew the first tranche amounting to 3 billion euros in the present day.
As of 2022, the European Union will provide the largest amount of direct budget assistance to Ukraine – 46 billion euros in priority areas of the state budget.