Ukraine has received another financial support amounting to $690 million through the Extraordinary Revenue Acceleration for Ukraine (ERA) mechanism, implemented by the G7 countries. The funds are sourced from the revenues of frozen Russian assets, which have become a significant part of Ukraine’s external financing.
This is reported by Finway
Details of the Funds Received from Japan and Canada
Of the total amount, $544 million came from Japan, marking the first tranche from this country under the ERA program. Canada provided an additional $146 million, having previously allocated significant sums to Ukraine under the same mechanism — $2.5 billion in the spring and $2.3 billion in the summer of 2025.
All received funds have been directed to the general fund of the state budget of Ukraine. They are planned to be spent on financing key social needs, including pensions, social programs, and housing subsidies for citizens.
External Financing and the Role of Frozen Assets
Finance Minister Serhiy Marchenko emphasized that since the beginning of the full-scale war, Japan has already provided our state with $9.5 billion in budget support, while Canada has contributed nearly $9 billion. In 2025, Ukraine attracted $52.4 billion in external financing, exceeding the figures for 2024, when this amount was $42 billion. More than 70% of these funds have been secured from the revenues of frozen Russian assets, indicating the effectiveness of international sanctions mechanisms.
“The volume of external financing in 2025 amounted to about 24% of GDP, which approximately corresponds to the level of 2023,” notes Forbes Ukraine.
The majority of financing has been received through the G7 countries’ mechanisms under the ERA Loans program — the total amount is $37.9 billion. These funds are structured as conditional debt obligations; however, their repayment is planned to be made from the profits of frozen assets of the Russian Federation.
The total volume of the ERA program for 2025–2026 reaches $50 billion. The European Union has already fully transferred its share — €18.1 billion, while Ukraine plans to attract the remaining financing in 2026.