In the context of full-scale Russian aggression, Japan is one of the leaders in supporting Ukraine in all possible areas. Japan has already provided more than $4.6 billion in support, including about $372 million in grants. Finance Minister Sergei Marchenko announced this.
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Aid to Japan
“This assistance is vital to ensuring the economic and financial stability of Ukraine. I am grateful for the productive cooperation within the framework of the Ukraine Donor Platform, as well as for the leadership in consolidating the efforts of the international community, which Japan demonstrated during its chairmanship of the G7 in 2023,” noted the Minister of Finance of Ukraine.
Funds from Japan Budget support was attracted through five World Bank projects: PEACE in Ukraine, INSPIRE, ARISE, HOPE and Development Policy Loan. And also through the Japan International Cooperation Agency (JICA).
In 2024, Ukraine expects to attract $37.3 billion from international partners for the social and humanitarian spheres. In the first months of the year, Japan is the largest donor of financial aid. In total, in the first quarter, assistance is expected to amount to about $2.2 billion. Funds will be raised through World Bank framework projects.
The Minister of Finance also noted that expanding cooperation with Japan, including public-private cooperation, is a priority Ukraine for effective recovery.
According to the latest RDNA3 estimates, the need for recovery is almost $486 billion, for rapid recovery – $15 billion.
“Large-scale recovery will require strong and long-term cooperation between the Government of Ukraine and private sector. We are ready to work together to provide favorable conditions to attract Japanese business. In addition, Japan’s experience and expertise in the implementation of restoration projects is valuable to us,” added Marchenko.