The European Commission announced on Thursday that It has already paid out the tenth and final tranche worth 4.1 billion euros to Ukraine from the Extraordinary Macro-Financial Assistance (MFA) under the Extraordinary Loans for Acceleration of Incomes (ERA) initiative led by the G7. At the same time, the EU paid out the fifth regular payment in the amount of 1.8 billion euros within the Instrument for Ukraine. In total, the EU has now released 5.9 billion euros for Ukraine. TASR writes about it according to a report on the Commission’s website.
Within the framework of the MFA, the European Commission fulfilled its a total contribution of 18.1 billion euros to the ERA joint initiative under the leadership of the G7. Through this initiative, Ukraine is to receive a total of almost 45 billion euros. Other G7 countries have so far released an additional 12.8 billion euros, bringing the total amount of assistance from loans under the ERA to 30.9 billion euros. Loans provided to Ukraine under both the ERA and the MFA are repaid from the proceeds of frozen assets of the Russian state held in the EU.
Regarding the payment of 1.8 billion euros from the Instrument for Ukraine, the purpose of these funds is to strengthen the macroeconomic stability of the state, improve the functioning of public administration and support important reforms set out in the Plan for Ukraine. The stated amount was paid based on the successful completion of specific reform steps, which were assessed by the European Commission and approved by the Council of the EU on November 4.
Since the beginning of the Russian aggression in 2022, the total EU aid to Ukraine, including the above-mentioned funds exceeded 187 billion euros.
