Ukraine received 5.9 billion euros from the EU: what will the funds be used for?
The European Union has provided Ukraine with €5.9 billion in financial assistance. In particular, €4.1 billion came under the ERA Loans mechanism, which is the final tranche of a €18 billion program financed by frozen Russian assets. Another €1.8 billion was allocated through the Ukraine Facility. The funds are intended to support macro-financial stability, restore infrastructure and strengthen the economy during the war.
The provision of funding was announced by Prime Minister of Ukraine Yulia Svyrydenko on her Telegram channel.
She emphasized that the assistance is the result of the strategic partnership and trust between Ukraine and the EU and demonstrates European solidarity in the fight against Russian aggression.
“This is a concrete example of how Russia is beginning to be held accountable for its crimes,” Svyrydenko said, adding that the funding allows Ukraine to direct more domestic resources to defense and the protection of citizens.
The Prime Minister thanked European Commission President Ursula von der Leyen and European Commissioners Valdis Dombrovskis and Marta Kos for their leadership and continued support for Ukraine.
“This assistance saves lives, restores critical infrastructure, and supports the country’s economic stability even in the difficult conditions of war – the largest in Europe since World War II,” the Prime Minister emphasized.
“Europe stands by Ukraine, and the aggressor will definitely pay. Justice will prevail,” she added.
As a reminder, the Council of the European Union has approved the fifth tranche of macro-financial assistance to Ukraine under the Ukraine Facility program in the amount of EUR 1.8 billion. The funds will be allocated to support macroeconomic stability and the smooth functioning of the public administration system.
As reported, the European Commission has developed a new initiative that involves using the proceeds from frozen Russian assets to finance a large-scale loan to Ukraine. This is an amount of 140 billion euros, which Kyiv will be able to receive to support the budget and strengthen the defense sector.
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