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Japan to finance US$188 million technology transfer to Ukrainian business

Monday, 17 June 2024, 18:52
Japan to finance US$188 million technology transfer to Ukrainian business
Stock photo: Getty Images

The Ukrainian Ministry of Economy, together with the United Nations Industrial Development Organisation (UNIDO), has announced the launch of a US$188 million grant project to transfer Japanese technology to Ukraine, funded by Japan.

Source: press service of the Ministry of Economy.

Details: This project opens up opportunities for Ukrainian businesses to receive grants of up to US$10 million, and the total project budget is US$188 million.

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It is noted that the main goal of the project is to support the restoration of the green industry and ensure the long-term sustainable development of Ukraine. 

In addition, the project is intended to have a socio-economic impact and support people affected by the war.

The project plan includes technology transfer, capacity building, and joint ventures in key high value-added industries.

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Sectors to be supported under the project:

  • Agro-tech, value chains, and water management;
  • Production from biomass and unused products and development of the circular economy;
  • Digital transformation, active use of information technology, data analytics and artificial intelligence;
  • Sustainable energy systems, energy saving, industrial decarbonization, energy infrastructure management, and climate risk mitigation and adaptation;
  • Green hydrogen/ammonia;
  • Increasing the productivity of small and medium-sized businesses and tech solutions in the field of smart logistics;
  • Med-tech, telehealth and medical services.

Background: 

  • Ukrainian and Japanese companies have signed 23 memoranda of economic cooperation ahead of the Ukraine Recovery Conference 2024 (URC2024).
  • Ukrainian President Volodymyr Zelenskyy and Japanese Prime Minister Fumio Kishida signed a bilateral security agreement: Japan will provide Ukraine with US$4.5 billion in 2024.

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