Ukraine receives $49.4 million in non-refundable aid from Japan
Illustrative photo (Vitalii Nosach, RBC-Ukraine)
Ukraine's national budget has received a $49.4 million grant from the Japanese government as part of the World Bank's project Housing Repair for People's Empowerment (HOPE), according to the Ministry of Finance.
According to the press service, the grant funds are being allocated to reimburse the expenses of the state budget used for compensatory payments to homeowners for repairs in multi-apartment and private buildings that have suffered moderate damage and do not require major renovations.
"The funds are aimed at overcoming the consequences of Russia's armed aggression and at the reconstruction of Ukraine's housing infrastructure," said Finance Minister Serhiy Marchenko.
Additionally, Ukraine is expecting financing from the governments of Japan and Norway through the World Bank's project Public Expenditures for Administrative Capacity Endurance (PEACE) in Ukraine in the near future. The funding partially offsets Ukraine's budget expenditures for teacher salaries, first responder services, and pension payments.
Japan's assistance to Ukraine
At the end of 2023, there was a delay in international aid to Ukraine from the United States and the European Union. In response, Japan stepped up its financial assistance to Kyiv.
In January, Japan was the only country to provide Ukraine with a $387 million loan.
Since the beginning of the war, Japan has provided Ukraine with a total of $4.643 billion in the form of loans and grants.
