The EU has allocated €5.9 billion to Ukraine under two programs
13 November 13:11
The European Union has transferred the last funds to Ukraine under the ERA program, which was financed by proceeds from the frozen assets of the Russian Central Bank.
This was announced by European Commissioner for Economic Affairs Valdis Dombrovskis on the social network X, "Komersant Ukrainian" reports.
“Today’s disbursement of €4.1 billion to Ukraine completes the EU’s €18.1 billion contribution to the ERA loan initiative. Funded by the proceeds of Russia’s immobilized assets, it helps Ukraine to defend itself, keep services running and advance important reforms,” he wrote.
The Economic Resilience Activity (ERA) project was funded by the United States Agency for International Development (USAID) and was aimed at supporting Ukraine’s economic resilience. After Donald Trump came to power, USAID’s activities were terminated and its programs were transferred to the State Department.
At the same time, Ukrainian Prime Minister Yulia Svyrydenko said that Ukraine had received €5.9 billion from the European Union.
It is noted that the new tranche of economic aid came from two sources:
- 4.1 billion euros under the ERA Loans mechanism – the final tranche under the 18 billion euro program financed from the proceeds of frozen Russian assets. This is an example of how Russia is beginning to pay for its crimes.
- 1.8 billion euros – under the Ukraine Facility. This is a confirmation that Ukraine is confidently moving towards reforms and European integration.
“Both decisions are the result of the strategic partnership and trust between Ukraine and the EU. I am grateful to the President of the European Commission Ursula von der Leyen, European Commissioners Valdis Dombrovskis and Martha Kos for their leadership and unwavering support for Ukraine,” Svyrydenko emphasized.
