The European Union plans to allocate EUR 30.6 billion in budgetary support for Ukraine in 2025, including EUR 18.1 billion through the G7 ERA initiative funded by revenue from frozen Russian assets, and EUR 12.5 billion through the Ukraine Facility instrument.
As reported on the Ukrainian government’s website on Tuesday, the funds raised will be directed towards meeting the needs of the state budget for 2025 and 2026.
According to Ukraine's Finance Minister Sergey Marchenko during a meeting of the EU Council on Economic and Financial Affairs (ECOFIN) in Brussels, the EU has been the largest donor of direct budgetary aid since February 2022. During this period, EUR 45 billion has been secured to finance the country's priority budget expenditures.
"In 2024, EU budget support accounted for over 40% of all external receipts – EUR 16.1 billion. Importantly, this assistance includes EUR 3 billion in the form of grants. The remaining amount consists of concessional loans. The European Union continues its systematic support for Ukraine, including military and humanitarian assistance, as well as enforcing stringent sanctions against Russia. I am grateful for the understanding of Ukraine's needs and for the expansion of our cooperation," he stated.
The meeting included the economy and finance ministers of EU member states and representatives of EU institutions. The agenda covered discussions on the current state of Ukraine's financial system, the implementation of the country's plan under the Ukraine Facility, and the mechanism for utilizing revenue from frozen Russian assets for Ukraine through Extraordinary Revenue Acceleration (ERA) Loans for Ukraine, as well as the sanctions pressure on Russia.
Marchenko expressed gratitude to the EU for supporting the G7 decision to direct $50 billion to Ukraine from future revenues derived from frozen Russian assets. "This decision is just, holding the aggressor state financially accountable for its crimes against Ukraine. Our next priority is the complete confiscation of frozen Russian sovereign assets. The aggressor must pay for its actions," he said.