The European Union delivered €4.05 billion ($4.7 billion) in financial support to Kyiv on Ukraine’s 34th Independence Day.
The package includes two separate transactions: €3.05 billion (almost $3.6 billion) from the Ukraine Facility and €1 billion ($1.2 billion) from the G7-led Extraordinary Revenue Acceleration (ERA) loan initiative, backed by Russian frozen assets.
“As Ukraine celebrates its 34th Independence Day, the EU sends a clear message: our solidarity with Ukraine is unwavering,” the EU Commission press release quotes Ursula von der Leyen, President of the European Commission. “This new funding underlines our commitment not only to Ukraine’s recovery, but to its future as a sovereign and democratic country.”
The new EU package includes €3.05 billion ($3.6 billion) through the Ukraine Facility – the €50 billion ($58.3 billion) EU financial assistance program for Ukraine, signed in February 2024 and planned for 2024-2027. The program is intended to support Ukraine’s recovery, reconstruction, and modernization.
The latest tranche marks the fourth regular payment under the Ukraine Facility. Total EU support under the Facility has reached €22.7 billion ($26.5 billion) since March 2024. This represents nearly 60% of the funds available under the Ukraine Plan, the EU Commission reported in a press release.
Under the Ukraine Facility, the country met 13 reform benchmarks tied to this payment. Key achievements include reforms in public administration, public asset management, human capital, green transition, digital and agri-food regulation, and critical raw materials management.
The EU also disbursed €1 billion (almost $1.2 billion) as its contribution to the G7-led Extraordinary Revenue Acceleration (ERA) loans initiative, which aims to provide approximately $50 billion in financial support to Ukraine to cover its urgent needs. The latest tranche marks the seventh disbursement under the ERA program.
Repayments under the ERA will be funded by frozen Russian Central Bank assets, with the EU’s share totaling €18.1 billion ($21.2 billion).
The EU commented on the recent parliamentary decision to restore the independence of the National Anti-Corruption Bureau (NABU) and the Specialized Anti-Corruption Prosecutor’s Office (SAPO).
“Safeguarding the autonomy of these two institutions is a cornerstone of Ukraine’s anti-corruption architecture and of its European path,” the press release says.
On July 22, the Verkhovna Rada, Ukraineʼs parliament, voted to strip the NABU and the SAPO of their independence – a move that drew sharp criticism from the EU and triggered mass protests demanding its reversal.
But on July 31, Ukraine’s Verkhovna Rada adopted draft law No. 13533, proposed personally by Zelensky after mass protests, which reinstated the independence of key anti-corruption institutions.
Since Russia’s full-scale invasion in February 2022, the EU and its Member States have mobilized €168.9 billion in support ($197.5 billion). This includes €73.6 billion ($68.1 billion) from the EU budget, €15 billion ($17.5 billion) in bilateral assistance from member states, €59.6 billion ($69.7 billion) in military aid, and €3.7 billion ($4.3 billion) from frozen Russian assets. Another €17 billion (almost $20 billion) supports people fleeing Ukraine due to the war.