Ministry of Finance: Ukraine has already received 14 billion euros from the European Union out of 18.1 billion provided under the ERA

Ukraine received another tranche of 4 billion euros from the European Union within the framework of the “Group of Seven” Extraordinary Revenue Acceleration for Ukraine (ERA) initiative, the Ministry of Finance reported on October 1.

“In general, within the framework of the ERA instrument, the Ministry of Finance has already attracted 14 billion euros from the European Union, out of the planned 18.1 billion euros. It is expected that Ukraine will receive the remaining funds from the EU by the end of 2025,” the statement said.

The received funds can be directed to priority expenditures of the state budget in the social and military spheres, as well as to reconstruction.

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Minister of Finance Serhiy Marchenko stated that from February 2022, the European Union is the largest provider of direct budget aid to Ukraine – it reaches 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 position in this matter. Further use of the frozen assets of the Russian Federation for the needs of Ukraine remains on the agenda of meetings with European colleagues,” Marchenko said in his comment.

In September, Defense Minister Denys Shmyhal after a conversation with European Commissioner Valdis Dombrovskis announced that the next tranche under the ERA mechanism is expected in October.

Extraordinary Revenue Acceleration is a G7 initiative, which provides financial resources to Kyiv at the expense of revenues from frozen assets of Russia.