Japan to increase financial aid to Ukraine
Photo: Japan will provide Ukraine with financial aid (Getty Images)
The Japanese government intends to add 1.122 trillion yen ($7.46 billion) to its fiscal investment and loan program for the current financial year, including support for Ukraine in coordination with the G7 countries, informs Reuters.
The agency refers to a draft document.
In June, G7 leaders agreed to provide Kyiv with a $50 billion loan, partially financed by interest from Russian assets seized following the full-scale invasion in February 2022.
Previously, Japan allocated $3 billion to Ukraine as part of the G7 initiative for the $50 billion loan, which will be repaid using proceeds from Russia's frozen assets.
The United States pledged to contribute $20 billion of the $50 billion loan. While these funds have not yet been provided, reports from the US indicate that the money is being prepared for release this year.
Earlier, NBU (National Bank of Ukraine) head Andrii Pyshnyi stated that irrevocable aid from G7 countries funded by Russian assets would start arriving soon.
It is worth noting that Japan has been one of the largest donors of budgetary support to Ukraine since the start of the war. In 2024 alone, Japan provided Ukraine with $2.2 billion, including $1.5 billion in loans and $700 million in grants.
Since 2022, Japan has provided $6.4 billion to Ukraine, with only the EU and the United States contributing more.
Additionally, Japan will allocate another $660 million under a World Bank project. These funds will be used for housing and utility subsidies and assistance for internally displaced persons (IDPs).
