Ukraine received its first 3 billion euro ($3.09 billion) tranche of the European Union's portion of a loan agreed by the Group of Seven members and backed by the earnings from frozen Russian sovereign assets,

Ukraine has received the first tranche of €3 billion from the amount allocated by the European Union for a joint loan from the G7 to Ukraine, which will be repaid using proceeds from frozen Russian assets.

Ukraine on Friday received €3 billion ($3.1 billion) from the European Commission as part of a major aid package pledged by the Group of Seven (G7) leading economies. The G7 and the European Union aim to provide Ukraine with a loan of $50 billion,

According to Ukraine’s Ministry of Finance, these funds will be used to finance priority state budget expenditures, including social programs, military needs, and critical infrastructure restoration.