Ukraine has received about USD 1.2 billion from Japan through World Bank projects in the social, medical, business support, reconstruction and education sectors.
This is announced in a statement by the Ministry of Finance, Ukrainian News Agency reports.
The State Budget of Ukraine has received more than USD 1.2 billion from the Government of Japan under World Bank projects, in particular:
- USD 602 million in loans under the “Investing in Social Protection to Increase Coverage, Resilience and Effectiveness” (INSPIRE) project. The INSPIRE project aims to ensure social protection for low-income and vulnerable segments of the population of Ukraine during and after the war, improve access to social services and assistance, and strengthen the social support system to respond promptly to possible challenges of the present and the future.
- USD 400 million in loans in December 2024 under the Supporting Recovery through Smart Fiscal Governance (SURGE) program. The SURGE project aims to create the right environment and institutional framework for effective and accountable implementation and financing of climate-smart recovery.
- USD 250 million in loans in November-December 2024 under the Sustainable, Inclusive and Sustainable Entrepreneurship (RISE) program, which aims to address critical challenges that hinder private sector growth and sustainability.
- USD 220 million in December 2024 under the Transforming Health through Reform and Investing in Efficiency (THRIVE) program, which aims to improve the efficiency of public health spending.
- USD 200 million in November - December 2024 as part of the implementation of the program “Enhancing Accessibility and Resilience of Education in Crisis in Ukraine” (LEARN), the purpose of which is to improve the educational process in Ukraine under martial law by creating safe and comfortable conditions for educators and students.
The above-mentioned World Bank projects are implemented using the PforR financial instrument, the essence of which is that Ukraine first fulfills indicators, based on the results of their achievement and verification, a sample is made.
Thus, with the help of the instrument, Ukraine has the opportunity not only to attract the necessary resources, but also to demonstrate its commitment to fulfilling obligations that are part of reforms in the education, healthcare, financial sector, and entrepreneurship development sectors.
As Ukrainian News Agency earlier reported, the Government of Japan has decided to provide Ukraine with an additional USD 3 billion, secured by the frozen assets of the aggressor country of russia.
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