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“Today we transferred 3 billion euros to Ukraine. This is the first disbursement of the European part of the loan agreed by the G7 members,” said spokesman Maciej Berestecki during the Commission’s daily press briefing.

“With this support, Ukraine will be able to meet its budgetary needs for 2025,” said the spokesman. The money will specifically help Kyiv in “maintaining its macroeconomic stability, rebuilding the critical infrastructure destroyed by Russia, and prioritizing significant expenditures, including for defense.”

The G7 agreed last year to provide Ukraine with a $45 billion loan, which is financed by profits from the approximately 210 billion euros of frozen Russian assets parked in the EU, mainly at Euroclear in Belgium. The European Union has committed to transferring more than 18 billion euros.

Further payments will follow between March and November, at 1 billion euros per month, according to a press release. The last 6.1 billion will be transferred in December.

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