cross-posted from: https://scribe.disroot.org/post/7110362
Ukraine’s Finance Ministry and the World Bank signed a grant agreement on Thursday worth $690.8 million, funded by Japan and Canada through proceeds generated from frozen Russian assets under an Extraordinary Revenue Acceleration (ERA) Loan.
Signed in autumn 2024, the ERA Loan is the key macrofinancial assistance for Ukraine, helping Kyiv to sustain core state functions during wartime. The tranche represents Canada’s final contribution under the ERA instrument and Japan’s first disbursement.
The funding was secured under the “Supporting Public Expenditures for Sustainable Public Administration in Ukraine” program, known as PEACE in Ukraine, a mechanism set up by the World Bank and Ukraine’s Ministry of Finance.
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According to the finance ministry, the grant will be directed to Ukraine’s general budget fund and used to reimburse critical state expenditure, including pension payments and social assistance programs.
These include housing and utility subsidies, which have grown in importance as millions of Ukrainians face reduced incomes amid the war and repeated attacks on civilian infrastructure.
Of the total $690.8 million package, $544 million stems from the Japanese government, $146 million from Canada, and $800,000 from a multi-donor trust fund established under the PEACE in Ukraine program.
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Following the latest disbursement, total funding mobilized through the PEACE in Ukraine program will reach $51.7 billion, the finance ministry reported.
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The ERA Loan is a crucial component of Ukraine’s 2025 financial strategy, backed by profits generated from frozen Russian assets held in Europe.
The program redirects interest earnings from Russia’s immobilized assets toward Ukraine to compensate for the destruction caused by the war. The ERA Loan provides $50 billion in financial assistance that Ukraine will not have to repay.
This initiative was negotiated between Ukraine, the EU, the US, Canada, Japan, and the UK, with joint agreements signed in late 2024. These countries remain the ERA’s major stakeholders.
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OK. But who decides when justice will be applied and when will it not? Will Russia pay reparations to Afghanistan for the invasion in the 1980's. Will the US pay for Iraq and Afghanistan?
Even just sticking to Russia, why is Ukraine getting paid with Russian assets but Afghanistan did not. Who decides this? Do you see how arbitrary this is?
I am not a legal expert, but whataboutism is certainly irrelevant.
Russia started an illegal invasion of Ukraine, and it has been deliberately attacking and destroyed civilian infrastructure in Ukraine worth of hundreds of billions. Russia is responsible for this and it will have to pay.
You say this because you don't have a proper response besides "me good, them bad". I see a lot of "I am not a [educated person] but" is always followed by a incrqedibly wrong self-serving take as if ignorance is a valid excuse to backing something obviously wrong but self-serving.
"I am not a climate expert but.. "
"I am not a doctor but..."
"I am not a mathematician but..."
"I am not a legal expert but..."
If you don't know, that's fine. But be open to being properly educated instead of spreading bad-faith, self-serving propaganda.
True
False.
The word is should not will. You would like Russia to pay but you do not have the ability to say what will or will not happen.
Whataboutism is a falacy to deny the truthfulness of a claim of something happening, not one should interpret it.
In fact whataboutism is the basis of falsification which is important in science.
We know for a fact that Russia invaded a country and did not pay reparations (Afghanistan). Why do you think that when Russia invades another country that it will pay? This is why you're really saying "should" but use the word "will" instead.
I can say they did not before, there is no expectations that they will do so in the future.