• 03/15/2025

Ukraine receives US$1.7 billion from Canada under ERA initiative

Pravda Ukraine

Kyiv has received the first tranche of CAD 2.5 billion (roughly US$1.7 billion) from Canada under the G7 Extraordinary Revenue Acceleration (ERA) loans initiative for Ukraine.

Source: Ukraine’s Finance Ministry

Details: The Finance Ministry notes that the funds will be used for the priority needs of Ukraine’s state budget.

In total, Canada’s contribution to the ERA initiative amounts to CAD 5 billion (roughly US$3.47 billion). The loan is granted for 30 years.

“The ERA mechanism worth US$50 billion involves providing Ukraine with loan funds that will be repaid and serviced using future revenues received from immobilised Russian sovereign assets,” the Ministry of Finance explained.

Background:

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https://www.pravda.com.ua/eng/news/2025/03/13/7502714/