The Minister of Finance of Ukraine Sergii Marchenko and the Ambassador of Japan to Ukraine Masashi Nakagome signed an agreement in the form of an exchange of notes. The agreement provides for a loan to Ukraine of up to 471.9 billion yen (about USD 3 billion).

The funds are part of the Extraordinary Revenue Acceleration (ERA) mechanism initiated by the G7 countries, totaling around USD 50 billion.

The loan will be serviced and repaid using future revenues generated from immobilized russian sovereign assets.

The loan is provided for 30 years. The funds will be directed to support priority budgetary needs and contribute to the recovery and development of Ukraine.

“Japan is an outstanding example of international solidarity, becoming one of Ukraine’s leading partners during our struggle for freedom and dignity. The signing of today’s Agreement will not only help meet our urgent budgetary needs but also serves as a reaffirmation of Japan’s sincere commitment to the shared values that unite our countries. I express my deep gratitude to the Government and people of Japan for this critically important support and for all the financial assistance we have received since the beginning of russia’s full-scale invasion,” said Sergii Marchenko.

He added that over the past three years, Japan has already provided more than USD 8.5 billion in budget support to Ukraine. These funds have been crucial in maintaining the country’s economic and financial stability.

Source: https://www.minfin.gov.ua/