KYIV, BRUSSELS (Reuters) -Ukraine received its first 3 billion euro ($3.09 billion) tranche of the European Union’s portion of a loan agreed by the Group of Seven members and backed by the earnings from frozen Russian sovereign assets, Kyiv and Brussels said on Friday.
G7 leaders in October agreed to provide some $50 billion in loans to Ukraine via multiple channels.
“Today, we deliver €3 billion to Ukraine, the 1st payment of the EU part of the G7 loan. Giving Ukraine the financial power to continue fighting for its freedom – and prevail,” European Commission President Ursula von der Leyen said on social media platform X.
Ukraine’s Prime Minister Denys Shmyhal confirmed the transfer of the funds in a statement on the Telegram app.
The funding channels agreed by G7 include a Macro-Financial Assistance Loan from the EU, the IMF’s Multi-Donor Administered Account for Ukraine and a newly created Financial Intermediary Fund for Ukraine at the World Bank.
In December 2024, the U.S. Treasury Department transferred the $20 billion U.S. portion the G7 loan to the World Bank fund.
($1 = 0.9709 euros)
(Reporting by Max Hunder and Van Campenhout Editing by Tomasz Janowski)
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