Ukraine and Japan sign a deal for $100 million loan

Ukraine’s Ministry of Finance inked a $100 million loan agreement with the Japan International Cooperation Agency. According to source, this is according to the ministry’s press service.

“On May 16, 2022, Ukrainian Finance Minister Sergii Marchenko and President of the Japan International Cooperation Agency (JICA), Dr. Akihiko Tanaka, signed a USD 100 million loan deal for Ukraine,” according to the announcement.

“The 13 billion yen concessional loan, which is the first instalment of the financial aid agreement between Ukraine and Japan, will be transferred to the state budget to cover priority expenses. First and foremost, must assist Ukraine’s most vulnerable citizens “Sergii Marchenko stated.

The Minister also thanked all Japanese citizens for their support and assistance to Ukraine.

The agreed agreement covers fiscal help for the stabilization of the situation in Ukraine, including priority social and humanitarian expenditures, health care, and assistance to internally displaced persons, among other things.

With an annual interest rate of 1%, the loan repayment time is 30 years, including a 10-year grace period.

As previously reported, Japan will provide Ukraine with $300 million in financial assistance.

France provided a EUR 300 million loan on April 5, and the International Bank for Reconstruction and Development provided EUR 44.6 million on April 6. The Ministry of Finance has placed government bonds worth EUR 174 million, and the European Commission awarded a EUR 120 million grant on April 11.

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