European Commissioner Valdis Dombrovskis will call on Japan, the UK and the US to speed up payments to Ukraine
News editor at LIGA.net
Valdis Dombrovskis (Photo: EPA / OLIVIER MATTHYS)
Brussels is calling on Western partners to accelerate disbursements under the ERA loan scheme for Ukraine, ahead of a potential €90 billion EU loan, Euractiv reports.
According to the media, citing three unnamed officials, EU Economic Commissioner Valdis Dombrovskis will urge ministers from Japan, the United Kingdom, and the United States to speed up ERA payments during a visit to Washington this week.
The ERA mechanism provides Ukraine with $50 billion (€45 billion), backed by proceeds from Russia’s frozen assets. The EU’s contribution amounts to €18.1 billion. Euractiv notes that the EU has already paid its share, while around €7 billion remains undisbursed overall. Japan, the United Kingdom, and the United States have not yet fully paid their shares.
According to the European Commission, Ukraine’s total budgetary and military financing needs are estimated at around €135 billion for 2026 and 2027. Brussels is also working to engage other international partners, including G7 countries, to cover a €45 billion funding gap, of which only about €15 billion is currently secured.
In 2024, the G7 countries agreed to use the interest from frozen investments as a loan to Ukraine. The loan will be secured by income from frozen Russian assets and will be free of charge to Ukraine.