Ukraine has received the second tranche of financial aid from the United Kingdom, amounting to £752 million (almost $1 billion). The funding is provided under the G7’s Extraordinary Revenue Acceleration for Ukraine (ERA) initiative, which channels profits from frozen Russian assets to support Ukraine.
On March 1, 2025, Ukrainian Finance Minister Serhiy Marchenko and UK Chancellor of the Exchequer Rachel Reeves signed an agreement to provide Ukraine with £2.26 billion (around $3 billion) in funding to strengthen the country’s defense capabilities.
The first tranche of £752 million was received on March 7, 2025. With this second disbursement, the total amount received so far stands at £1.5 billion.
The funding is provided on a 30-year term, with repayment to be made from future revenues generated by frozen Russian sovereign assets.
“I am grateful to the UK Government for its steadfast support of Ukraine in our fight against Russian aggression. These funds are earmarked to cover priority expenditures in the security and defense sector,” said Ukrainian Finance Minister Serhiy Marchenko.
Background
The financial aid from the United Kingdom is part of the G7 decision to launch the Extraordinary Revenue Acceleration Loans for Ukraine mechanism, with a total value of up to $50 billion.
