Ukraine Receives About USD 100 Million From Japan Under A Loan Agreement On Favorable Terms

Ukraine has received JPY 13 billion yen (USD 100 million) on May 24, 2022 under a loan agreement recently signed by Minister of Finance of Ukraine Serhii Marchenko and President of the Japan International Cooperation Agency Jaika (JICA) Dr. Akihiko Tanaka.

The Ministry of Finance has said this in a statement, Ukrainian News Agency reports.

The agreement is the first part of the agreed financial assistance between Ukraine and Japan.

The loan was granted on preferential terms: the loan repayment period is 30 years, including a grace period of 10 years; interest rate - 1% per annum.

The funds will be directed to the state budget to finance priority spending, primarily to support the most vulnerable population of Ukraine, in particular, to ensure priority social and humanitarian spending, as well as health care.

As Ukrainian News Agency reported, on April 28, an agreement was signed in the form of an exchange of notes between the governments of Ukraine and Japan on attracting a loan from the Japan International Cooperation Agency in order to implement a joint project with the International Bank for Reconstruction and Development of the system project "Second loan for development policy in the field of economic recovery."