EU Delivers €1 Billion to Ukraine Under G7's ERA Initiative Amidst Ongoing Financial Support

On March 20, Ukraine received €1 billion from the EU under the G7's Extraordinary Revenue Acceleration for Ukraine (ERA) initiative. The Ministry of Finance has already received €4 billion from the EU. These funds are allocated to cover priority social and military needs, reconstruction, and critical infrastructure support. The ERA aims to provide Ukraine with $50 billion, with the EU contributing €18.1 billion (equivalent to $20 billion). Ukraine received the first tranche of €3 billion this year. According to Finance Minister Sergii Marchenko, the EU's support through the ERA mechanism and the disbursement of €1 billion will help meet Ukraine's budgetary needs in 2025-2026. Frozen assets of the Central Bank of Russia in the EU amount to €210 billion, constituting the majority of such assets globally, according to official EU data.