Ukraine mobilises a USD 690 million grant from Japan and Canada funded under the G7’s ERA mechanism

Ukraine has received a USD 690 million grant from Japan and Canada under the G7’s ERA mechanism and through the World Bank’s PEACE in Ukraine project.

This represents the first tranche from Japan and the final tranche from Canada financed under the G7’s USD 50 billion Extraordinary Revenue Acceleration for Ukraine (ERA) mechanism.

The funds have been transferred to the general fund of the State Budget of Ukraine and will be directed toward financing priority government expenditures, including old age social payments, social assistance programmes, and housing and utility subsidies.

The grant financing is provided through contributions from international partners:

• USD 544 million – contribution from the Government of Japan;
• USD 146 million – contribution from Canada;
• USD 0.8 million – funds from the PEACE in Ukraine Multi-Donor Trust Fund.

The implementation of the Extraordinary Revenue Acceleration for Ukraine (ERA) mechanism was launched in late 2024. Canada’s total contribution under this initiative amounts to CAD 5 billion (nearly USD 3.6 billion), of which two previous tranches totalling CAD 2.5 billion and CAD 2.3 billion were disbursed to Ukraine in spring and summer 2025. Japan’s contribution to the G7 financial support mechanism for Ukraine amounts to JPY 471.9 billion (over USD 3 billion).

“I am grateful to the World Bank, as well as to the Governments of Japan and Canada, for the grant support provided. Thanks to our partners’ assistance, we are maintaining macro-financial stability and financing key budget expenditures. Since 2022, Japan has provided USD 9.5 billion in budget support to Ukraine, while Canada has delivered nearly USD 9 billion in direct budget assistance,” said Minister of Finance of Ukraine Sergii Marchenko.

On 6 February 2026, the Ministry of Finance of Ukraine and the World Bank signed the grant agreement under the project “Public Expenditures for Administrative Capacity Endurance (PEACE in Ukraine).” 

The PEACE in Ukraine project has been implemented since June 2022 to ensure the uninterrupted performance of key government functions since the beginning of the full-scale war. The total amount of financing mobilised under the project has reached USD 51.7 billion.