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

Minister of Finance Sergii Marchenko has established the Ukraine Loan Cooperation Mechanism (ULCM) to provide a legal framework for servicing and repaying up to EUR 45 billion in loans to Ukraine. The ULCM will enable the use of proceeds from frozen Russian assets to cover loan costs, and funds can only be used for eligible loans under the G7 Extraordinary Revenue Acceleration Loans (ERA) initiative. Marchenko has also signed an agreement with the EU to secure up to EUR 35 billion in Macro-Financial Assistance through this mechanism.

Read more at Ministry of Finance of Ukraine