Masashi Nakagome and Serhii Marchenko. Photo: Ukraine’s Ministry of Finance
Ukraine’s Finance Minister Serhii Marchenko and Ambassador Extraordinary and Plenipotentiary of Japan to Ukraine Masashi Nakagome have signed an agreement on the provision of a loan in the amount of up to 471.9 billion Japanese yen (about US$3 billion) to Ukraine.
Source: press service for Ukraine’s Ministry of Finance
Details: The funds are part of the G7 countries’ Extraordinary Revenue Acceleration for Ukraine (ERA) initiative, with a total volume of approximately US$50 billion.
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The loan will be serviced and repaid using future revenues generated from immobilised Russian sovereign assets.
The financing is provided for 30 years. The attracted funds will be directed to support priority budget needs and contribute to the reconstruction and development of Ukraine.
Marchenko reported that Japan has already provided more than US$8.5 billion in budget support to Ukraine over the past three years.
Background: As part of the ERA initiative, Ukraine has received €5 billion from the EU. The remaining funds from the EU are expected to be disbursed to Ukraine in installments by the end of 2025.
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