Ukraine receives EUR 1 billion from EU’s ERA initiative – aid announced during meeting between Denys Shmyhal and Valdis Dombrovskis
The European Union has transferred EUR 1 billion to Ukraine under the ERA initiative. The announcement was made during a meeting between Prime Minister of Ukraine Denys Shmyhal and EU Commissioner for Economy and Productivity, Implementation and Simplification Valdis Dombrovskis in Brussels on 9 April.
According to the Head of the Ukrainian Government, this is the third tranche under the G7 initiative, secured by the proceeds of frozen russian assets, which will be used for priority state budget expenditures.
During the meeting, the parties discussed the importance of allocating russian funds held in the accounts of international financial institutions to rebuild Ukraine.
“Our priority is the complete confiscation of frozen russian sovereign assets, which should be used as a resource for the reconstruction of Ukraine,” said Denys Shmyhal.
The parties also focused on the macroeconomic situation, the progress of reforms and the process of rebuilding Ukraine. Additionally, cooperation in the defence sector was discussed.
“Following our meeting in Kyiv at the end of March, we discussed the implementation of the EUR 150 billion SAFE European security initiative, under which the Ukrainian defence industry will be able to participate in projects on an equal footing with the EU military industry,” the Prime Minister said.