OREANDA-NEWS Ukraine has received another billion euros from the EU as part of a Group of 7 loan repaid from proceeds from frozen assets of the Russian Federation, Ukrainian Prime Minister Denis Shmygal said.

On March 20, the European Commission announced that it had allocated an additional 1 billion euros to Ukraine as part of a Group of Seven (G7) loan repaid from proceeds from frozen Russian sovereign assets. It was noted that the total loan already allocated to Kiev by Brussels amounts to 4 billion euros. In total, the EU had previously committed to provide Ukraine with about 18 billion euros in loans repaid from proceeds from Russian assets under the agreed G7 loan of 45 billion euros.

"The EU has transferred 1 billion euros to Ukraine as part of the ERA initiative... This is the third tranche under the G7 initiative, secured by income from frozen Russian assets. The funds will be allocated to priority expenditures of the state budget. In total, under the ERA program, European allies provided Ukraine with 5 billion euros," Shmygal wrote on his Telegram channel.