Ukraine secures new EU funds as Kyiv pushes reform path

​​​​​​​By Alperen Aktas

ISTANBUL (AA) - Ukrainian Prime Minister Yulia Svyrydenko said Ukraine has received €5.9 billion ($6.9 billion) in financial support from the EU to help stabilize the economy, strengthen public services and free up domestic resources for defense needs.

In a statement, Svyrydenko said the package includes €4.1 billion in Extraordinary Revenue Acceleration (ERA) loans funded by profits from immobilized Russian assets and €1.8 billion through the Ukraine Facility -- a EU financial assistance program.

She described the ERA tranche, the final part of the EU’s €18 billion program, as “a meaningful demonstration of Europe’s commitment to justice and unity.”

Svyrydenko thanked European Commission President Ursula von der Leyen, Executive Vice President Valdis Dombrovskis and Commissioner for Cohesion and Reforms Elisa Ferreira (Marta Kos) for “their leadership and unwavering support,” saying the assistance will translate into “saved lives, rebuilt infrastructure, and a strengthened economy.”

“These funds allow us to direct more of our own resources toward what matters most – our defense,” she added.

The €1.8 billion provided under the Ukraine Facility reaffirms that Kyiv is continuing the reform process and moving toward closer integration with the bloc, she said.