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.

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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.