Japan already provided support worth $4.6B to Ukraine since war began – Finance Ministry

Japan already provided support worth $4.6B to Ukraine since war began – Finance Ministry

Since February 2022, Japan has already provided Ukraine with a total of $4.6 billion in support through World Bank projects and the Japan International Cooperation Agency (JICA).

According to Ukrinform, this was reported by the press service of the Ministry of Finance.

"In the face of full-scale russian aggression, Japan is one of the leading countries in supporting Ukraine in all possible areas. Direct budgetary assistance is no exception. Japan has already provided support worth more than USD 4.6 billion, including about USD 372 million in grants. This assistance is vital for Ukraine's economic and financial stability,” said the Minister of Finance.

Read also: Ukraine, Japan sign 56 documents on cooperation and reconstruction – PM Shmyhal

Funds from Japan for budget support were attracted through five World Bank projects: PEACE in Ukraine, INSPIRE, ARISE, HOPE and Development Policy Loan. Also, through the Japan International Cooperation Agency (JICA).

The Minister of Finance also noted that the expansion of cooperation with Japan, including public-private cooperation, is a priority for Ukraine for effective recovery.

According to the latest RDNA3 estimates, the needs for reconstruction amount to almost USD 486 billion, and for rapid recovery - USD 15 billion. 

As reported, Ukraine plans to raise $37.3 billion from international partners for social and humanitarian aid in 2024. Japan was the largest donor of financial assistance in the first months of the year. Overall, aid is expected to reach approximately USD 2.2 billion in the first quarter. The funds will be raised through World Bank framework projects.

While citing and using any materials on the Internet, links to the website ukrinform.net not lower than the first paragraph are mandatory. In addition, citing the translated materials of foreign media outlets is possible only if there is a link to the website ukrinform.net and the website of a foreign media outlet. Materials marked as "Advertisement" or with a disclaimer reading "The material has been posted in accordance with Part 3 of Article 9 of the Law of Ukraine "On Advertising" No. 270/96-VR of July 3, 1996 and the Law of Ukraine "On the Media" No. 2849-Х of March 31, 2023 and on the basis of an agreement/invoice.

© 2015-2024 Ukrinform. All rights reserved.

Extended searchHide extended search
By period: