“The EU provides financial support through the G7 ERA credit initiative and the Ukraine Facility”, — write: www.radiosvoboda.org
“The EU provides financial support through the G7 ERA credit initiative and the Ukraine Facility,” he said on the Kh.
The European Commissioner added that he also discussed Ukraine’s steps to get closer to the EU single market during a meeting with the First Deputy Prime Minister of Ukraine Yulia Svyridenko on the sidelines of the World Economic Forum in Davos.
The mechanism of the G7 member countries Extraordinary Revenue Acceleration for Ukraine (ERA) in the amount of up to 50 billion US dollars provides for the channeling of credit funds to Ukraine, which will be repaid at the expense of future profits received from immobilized Russian sovereign assets.
In December 2024, the Ukrainian government announced the receipt of a billion dollars from the United States. The provision of these funds will be provided by income from frozen Russian assets.
On December 10, the US Treasury announced that the United States will provide Ukraine with $20 billion in loans as part of the Group of Seven’s Extraordinary Revenue Acceleration (ERA) Loans initiative, which provides for a total of $50 billion.