Ukrainian, Japanese officials discuss reconstruction projects, new areas of cooperation

Ukrainian Finance Minister Sergii Marchenko met with Akihiko Tanaka, president of the Japan International Cooperation Agency (JICA), during a working visit to Japan to discuss further cooperation.

The sides discussed further budget support and aligning Japan's available reconstruction resources with Ukraine's most urgent recovery projects, as well as priority areas of cooperation for the coming months, Ukrinform reports, citing the Ukrainian Finance Ministry's press service.

The parties are also considering launching a new area of cooperation, including the creation of financial instruments to support small and medium-sized businesses in Ukraine, particularly for purchasing Japanese equipment and developing partnerships with Japanese companies.

JICA representatives reaffirmed their commitment to maintaining and expanding support for Ukraine.

JICA provides assistance to Ukraine in several areas, including technical cooperation and official development assistance loans, with a primary focus on supporting economic stability and reconstruction.

In 2022, Japan provided Ukraine with $581 million in concessional budget financing through JICA.

In 2025, Marchenko and Hideki Matsunaga, head of the JICA office in Ukraine, signed a loan agreement providing Ukraine with a loan from the Japanese government worth 471.9 billion yen (more than $3 billion). The first $544 million tranche was already disbursed in February 2026.

The loan will be serviced and repaid using revenues generated from immobilized Russian assets. The funds are part of the Extraordinary Revenue Acceleration for Ukraine (ERA) mechanism launched by the Group of Seven (G7) countries, with a total volume of about $50 billion.

Since 2023, Japan has also been providing Ukraine with grant assistance under the Program for Emergency Recovery worth more than 106.3 billion yen (approximately $737.85 million), implemented by JICA, to support Ukraine's reconstruction.

Earlier, Marchenko also met with Japan's Finance Minister Satsuki Katayama in Tokyo to discuss budget support for Ukraine, implementation of the ERA mechanism and joint reconstruction projects.

Photo: Finance Ministry of Ukraine