Ukraine has received another tranche of financial assistance from the European Union amounting to 4 billion euros. The funds are provided under the Extraordinary Revenue Acceleration for Ukraine (ERA) program, initiated by the G7 countries.
This is reported by Finway
EU Financial Support: Current Status and Plans
According to the Ministry of Finance, the total amount of assistance received by Ukraine from the EU under this instrument has already reached 14 billion euros. The ERA program is set to provide a total of 18.1 billion euros, and the Ukrainian side expects to receive the remaining amount by the end of 2025.
The influx of funds allows the Ukrainian government to cover the most critical expenditures of the state budget, particularly in the social sector, defense, and the country’s recovery after the devastation.
The Importance of ERA for Ukraine
Finance Minister Serhiy Marchenko emphasized that since February 2022, the European Union has remained the largest donor of direct budget support to Ukraine, with the total amount reaching 62.5 billion euros.
“ERA funds have become an important tool for meeting budgetary needs in 2025. I am grateful to the European Commission for understanding Ukraine’s needs and taking a proactive stance on this issue. The further use of frozen Russian assets for Ukraine’s needs remains on the agenda of meetings with European colleagues,” Marchenko stated in his comments.
In September, Defense Minister Denys Shmyhal reported after negotiations with European Commissioner Valdis Dombrovskis that the next tranche under the ERA mechanism is expected as early as October.
ERA is a special G7 initiative aimed at rapidly mobilizing financial support for Ukraine through revenues from frozen assets of the Russian Federation.