Japan provides Ukraine with US$1.3bn: how funds will be used
Ukraine has received nearly US$1.3 billion from the Japanese government under the PEACE in Ukraine project, an initiative run by the World Bank.
Source: Prime Minister Yuliia Svyrydenko
Details: The funds have been credited to the general fund of the state budget and will be used for social spending.
"This is the second tranche from Japan financed under the G7's Extraordinary Revenue Acceleration for Ukraine mechanism. Its total volume amounts to US$50 billion," she said.
Since February 2022, budget support from Japan has exceeded US$10.7 billion, more than US$2.7 billion of which has been provided in grants.
"This assistance is extremely important for ensuring Ukraine's financial stability," Svyrydenko added.
Background:
- Japan previously provided equipment and machinery to Ukraine's State Emergency Service for humanitarian mine clearance needs.
- The Japan International Cooperation Agency (JICA) also supplied Ukraine with three high-capacity autotransformers worth over US$20 million.
- Ukraine also received a US$690 million grant from Japan and Canada under the G7 ERA mechanism through the World Bank's PEACE in Ukraine programme.
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