EU transfers €1bn to Ukraine from proceeds of frozen Russian assets - Shmyhal
The European Union has transferred the third tranche of €1 billion to Ukraine under the Extraordinary Revenue Acceleration (ERA) initiative.
This was announced by Prime Minister Denys Shmyhal, Censor.NET reports.
The announcement was made during his meeting in Brussels with EU Commissioner for Economic and Productivity Valdis Dombrovskis.
"This is the third tranche of the G7 initiative, secured by the proceeds of frozen Russian assets. We will use the funds for priority state budget expenditures," the Prime Minister said.
According to Shmyhal, Ukraine insists on the full confiscation of frozen Russian sovereign assets to finance the country's reconstruction.
‘We also discussed with Mr Dombrovskis the macroeconomic situation, the progress of reforms and the process of rebuilding Ukraine. We thank our partners for their support of the economy and the rapid recovery of our country," he added.
