The state budget of Ukraine has been replenished with another payment from the European Union — a tranche of 4 billion euros has been received from funds obtained from frozen assets of the Russian Federation. The payment was made on Defender’s Day of Ukraine, which underscored its special significance for the country.
This is reported by Finway
Funding under the ERA program
The financial assistance was provided under the Extraordinary Revenue Acceleration for Ukraine (ERA) initiative, aimed at accelerating Ukraine’s access to additional resources from the EU. Overall, under this program, the Ministry of Finance has already managed to attract 14 billion euros out of the planned 18.1 billion euros. The remaining funds are expected to be received by the end of the year, which will help strengthen the financial stability of the state during this challenging period.
Directions for the use of funds
The attracted European resources can be directed both to cover social expenditures of the state budget and to enhance the country’s defense capabilities. The priority areas for distribution remain support for the most vulnerable segments of the population and funding for defense needs, which is critically important for maintaining national security.
“The tranche is secured by revenues from the frozen assets of the Central Bank of Russia in the European Union and serves as an important signal of Europe’s determination to strengthen Ukraine’s defense capabilities and provide long-term support,” the head of the government stated.