The European Union (EU) announced an exceptional macro-financial assistance (AMF) as part of its contribution to the G7-led Extraordinary Revenue Acceleration (ERA) initiative, aimed at providing approximately 45 billion euros in support to Ukraine.
With the funds announced today, the EU’s contribution to the ERA has reached 10 billion euros since the beginning of the year.
On Wednesday, European Commission President Ursula von der Leyen, in her State of the Union address, revealed plans to advance six billion euros from the EU’s contribution to the ERA loan initiative. This move will enable the EU to support critical increases in military spending by the coming autumn, assisting Ukraine in meeting its urgent military requirements.
Ukraine has been under invasion by Russia since February 24, 2022, a conflict that intensified with the intrusion of drones into Poland’s airspace.
