Sergii Marchenko: Japan's budget support has reached $6.3 billion since February 2022, of which almost $1 billion is grants

Minister of Finance of Ukraine Sergii Marchenko met with Ambassador Extraordinary and Plenipotentiary of Japan to Ukraine Matsuda Kuninori and Senior Vice President of the Japan International Cooperation Agency (JICA) Shohei Hara.

The meeting was also attended by Deputy Ministers of Finance of Ukraine Olga Zykova and Alexander Kava and Government Commissioner for Public Debt Management Yuriy Butsa.

The parties discussed the current economic situation in Ukraine, priority areas of recovery and the implementation of joint projects.

"Ukraine is steadily enhancing its financial capacity through higher internal budget revenues. Meanwhile, international assistance remains crucial to ensure timely and full financing of all priority expenditures. We appreciate the leadership of the Government of Japan in this matter. In total, budgetary assistance from Japan reaches USD 6.3 billion since February 2022, of which almost USD 1 billion are grants", the Minister of Finance of Ukraine said.

Japan is the second largest donor of financial support among the countries (after the United States) and the fourth among all international partners (after the EU, the United States and the IMF).

In 2022, Japan provided Ukraine with USD 581 million in concessional financing through JICA. 

The Minister of Finance noted that he expects the Government of Japan to continue its budgetary support and to expand its partnership in Ukraine's recovery. Japan's experience in implementing and managing recovery projects is extremely valuable for Ukraine.

In 2023, JICA launched the Project Programme for Emergency Recovery (Project Phases 1, 2) and in 2024 - Phase 3 of the project for a total of about USD 640 million in grants. The funds are aimed at rapid recovery, in particular to overcome the consequences of the full-scale armed aggression of the russian federation, transport and critical infrastructure, and the provision of equipment for humanitarian demining.

The parties also discussed potential cooperation in supporting Ukraine's private sector through access to concessional financing.