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Japan committed to providing timely financial support to Ukraine

Japan committed to providing timely financial support to Ukraine Photo: Japan will provide support to Ukraine (Getty Images)

Japan will continue to provide timely budget support to Ukraine, with a contribution of $3.6 billion last year, says Masato Kanda, Deputy Minister of Finance for International Affairs in Japan.

Minister of Finance of Ukraine Sergii Marchenko and Kanda discussed cooperation between Ukraine and Japan in the financial sector, as well as the needs of the Ukrainian state budget in 2024. The meeting was held online.

"I am grateful to the Government of Japan for its steadfast position and understanding of Ukraine's needs, as well as for its leadership in support during Japan's G7 presidency in 2023," said Marchenko during the meeting.

It was also emphasized that Ukraine continues to implement structural reforms and fulfill its commitments outlined in the 4-year IMF Extended Fund Facility program, as reported by the Ministry of Finance.

Assistance to Ukraine in 2023

In 2023, Ukraine received $42.5 billion in international assistance in the form of grants and loans, according to the Ministry of Finance. The need for external financing in 2024 has decreased from $41 billion to $37.3 billion due to measures to maximize budget revenues, activate the domestic market for borrowing, and other initiatives.