Sergii Marchenko signed an agreement with the EU on the ULCM mechanism, which will create a legal framework for servicing and repayment of funds received by Ukraine under the G7 ERA initiative
Ukraine signed an Agreement on the establishment of the Ukraine Loan Cooperation Mechanism (ULCM), which will create a legal framework for servicing and repayment of funds received by Ukraine, up to €45 billion. The mechanism will allow the use of proceeds from frozen Russian assets to cover the principal amount of the loan raised from partners under the G7 ERA initiative, as well as interest and any other costs associated with the loan.
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