20 Mar, 12:11

EC disburses one bln euro in fresh macro-financial aid to Ukraine

With this payment, the Commission's total lending to Ukraine under this MFA amounts to 4 billion euros since the start of the year

BRUSSELS, March 20. /TASS/. The European Commission (EC) has transferred a new, one billion euro tranche of macro-financial support to Ukraine as part of an 18.1 billion euro support program, the EC said in a statement.

It says that the 18.1 billion euros represent "the EU's contribution to the G7-led Extraordinary Revenue Acceleration (ERA) loans initiative, which collectively aims to provide approximately 45 billion euros in financial support to Ukraine" to be repaid with proceeds from immobilized Russian assets.

With this payment, the Commission's total lending to Ukraine under this MFA amounts to 4 billion euros since the start of the year. This money is intended for servicing Ukraine's loans and filling the country's coffers.

Repayment of the G7's macro-financial loans from proceeds used from reinvesting Russian assets frozen in Europe will go on until 2040, meaning Brussels effectively excludes the possibility of unfreezing these assets in the next 15 years.

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