Ukraine has received a loan of up to 471.9 billion Japanese yen (approximately 3 billion dollars) from Japan. Finance Minister Serhiy Marchenko and the Japanese Ambassador to Ukraine, Masashi Nakagome, signed an agreement in the form of a note exchange for the provision of these funds, made possible by the Extraordinary Revenue Acceleration for Ukraine (ERA) mechanism of the G7 countries, which has a total volume of about 50 billion dollars.
This is reported by Finway
According to the Ministry of Finance, the loan will be serviced and repaid from future revenues generated from frozen Russian sovereign assets. The financing is provided for a term of 30 years, and the funds raised will be directed towards covering priority budget needs as well as the reconstruction and development of Ukraine.
“The loan will be serviced and repaid from future revenues obtained from frozen Russian sovereign assets. The financing is provided for 30 years. The funds raised will be directed to support priority budget needs and facilitate the reconstruction and development of Ukraine.”
Serhiy Marchenko noted that the signing of the agreement will not only address Ukraine’s urgent budget needs but will also serve as “another confirmation of Japan’s sincere commitment to the shared values that unite our countries.” Over the past three years, Japan has provided Ukraine with budget support totaling more than 8.5 billion dollars, which has been critical for maintaining the country’s economic and financial stability.
The Japanese Ministry of Foreign Affairs confirmed the signing of the financial assistance agreement. They stated that “this project aims to support programs that meet Ukraine’s budget needs in the context of the economic crisis caused by Russia’s aggression against Ukraine.” The Embassy of Japan in Ukraine also emphasized that Tokyo “will continue to support Ukraine and its people.”
The Extraordinary Revenue Acceleration (ERA) mechanism of the G7 countries provides for approximately 50 billion dollars in loans to Ukraine, secured by revenues from frozen Russian sovereign assets. These funds will be directed to support the budget, military needs, and the reconstruction of Ukraine’s infrastructure.