Japan to provide $600 million for housing subsidies to Ukrainians and IDP assistance
Photo: Subsidies and assistance to IDPs will be financed by Japanese funds (Getty Images)
The World Bank has approved additional funding of $664 million for the "Investing in Social Protection for Inclusion, Resilience, and Efficiency" (INSPIRE) project. The Japanese government is funding this initiative, the press service of Ukraine's Ministry of Finance reports.
Within this project, $602 million will be allocated to the general fund of Ukraine's State Budget.
The INSPIRE project aims to provide social protection for low-income and vulnerable populations in Ukraine during and after the war, improve access to social services and assistance, and strengthen the social support system to respond to current and future challenges.
"The INSPIRE project enhances the effectiveness of social protection programs for thousands of Ukrainians, particularly through subsidies for housing and communal services and assistance to internally displaced persons (IDPs)," said Ukraine's Minister of Finance, Serhiy Marchenko.
"The INSPIRE project strengthens the effectiveness of social protection programs for thousands of Ukrainians, in particular through subsidies for housing and communal services and assistance to IDPs," said Minister of Finance of Ukraine Sergii Marchenko.
The Ministry of Finance reported that $662 million will come from the Advancing Needed Credit Enhancement for Ukraine Trust Fund (ADVANCE Ukraine), which is supported by the Government of Japan. A $2 million grant will also be provided from the World Bank's Early Learning Partnership Trust Fund to support the expansion of childcare programs.
A total of $1.2 billion has already been raised under the INSPIRE project.
Japan has been one of the largest donors of budgetary support to Ukraine since the start of the war. In 2024 alone, Japan provided $2.2 billion to Ukraine, including $1.5 billion in loans and $700 million in grants.
Japan, the United States, and some other countries provide financial support through the World Bank.
The National Bank of Ukraine expects total international financing to reach $41.5 billion in 2024 and $38.4 billion in 2025.
