Ukraine has received another financial support tranche from the European Union - 1 billion euros within the limits of Extraordinary Revenue Acceleration (ERA). These funds are provided at the expense of income from frozen Russian assets. Prime Minister Denis Shmigal announced this on June 13.
“This is the fifth tranche of the EU macro -financial assistance within the ERA initiative. We raised the funds for key expenditures of the state budget, ”the Government Head said.
According to Shmigal, Ukraine has already received 7 billion euros under this program. Funds are used to finance social programs, support critical infrastructure, education, medicine and defense.
The ERA initiative was initiated by the European Union in response to a full -scale invasion of Russia into Ukraine. It involves the use of profits received from frozen assets of the Central Bank of the Russian Federation, located in European financial institutions.
European leaders have repeatedly emphasized that frozen Russian assets should serve in favor of Ukraine's restoration and support. This approach should be a signal to aggressors that the war will have not only political but also material consequences.
