Ministry of Finance: Ukraine received $ 3 billion from Japan within the G7 mechanism

Finance Minister Serhiy Marchenko and Japan Ambassador to Ukraine Masasi Nakagomme signed an agreement in the form of exchange of notes for granting a loan of up to $ 471.9 billion in Japanese (about $ 3 billion), the Ministry of Finance reported on April 18.

It is reported that the funds are provided within the framework of the Extraordinary Revenue Acceleration for Ukraine (ERA) of the Seven Group countries with a total volume of about $ 50 billion.

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“The loan will be serviced and repaid at the expense of future profits derived from immobilized Russian sovereign assets. Financing is provided for 30 years. The raised funds will be aimed at supporting priority budgetary needs and promoting the reconstruction and development of Ukraine, ”the message reads.

According to Marchenko, the signing of the agreement will not only contribute to the provision of urgent budgetary needs of Ukraine, but will also become “another confirmation of Japan’s sincere dedication to common values ​​that unite our countries.”

According to the Ministry of Finance, over the past three years, Japan has provided budget support to Ukraine for more than $ 8.5 billion, and these funds have been of critical importance to support the country’s economic and financial stability.

The Ministry of Foreign Affairs of Japan has confirmed the signing and exchange of financial assistance notes.

“This project is aimed at supporting programs aimed at meeting the budgetary needs of Ukraine in the conditions of economic crisis caused by Russia’s aggression against Ukraine, and promoting the reconstruction and development of Ukraine through financial support of the Government of Ukraine,” the Ministry of Foreign Affairs said.

The Embassy of Japan in Ukraine noted that Tokyo “will continue to support Ukraine and its people.”

The Extraordinary Revenue Acceleration (ERA) of G7 provides Ukraine with approximately $ 50 billion in the form of loans secured by profit from frozen Russian sovereign assets. These funds are aimed at supporting the budget, military needs and restoration of Ukraine’s infrastructure.