G7 ERA Initiative. Ukraine will receive about $3 billion from Japan
news.online.ua
Fri, 18 Apr 2025 17:04:00 +0300
Ukraine will receive a 3 billion loan from JapaOn April 18, the Minister of Finance of Ukraine, Serhiy Marchenko, and the Ambassador Extraordinary and Plenipotentiary of Japan to Ukraine, Masashi Nakagome, signed an Agreement in the form of an exchange of notes.
It provides for the provision of a loan to Ukraine of up to 471.9 billion Japanese yen about 3 billion US dollars.The funds are part of the Extraordinary Revenue Acceleration for Ukraine ERA mechanism of the G7 countries, totaling about 50 billion.As explained by the Ministry of Finance, the financing is provided for 30 years.
The loan will be serviced and repaid with future profits received from immobilized Russian sovereign assets.
The funds raised will be used to support priority budget needs and promote the reconstruction and development of Ukraine.
Marchenko expressed gratitude to the government and people of Japan for this critically important support for us and for all the financial assistance we have received since the beginning of Russias fullscale invasion.He added that over the past three years, Japan has already provided budget support to Ukraine of over 8.5 billion.The G7 Extraordinary Revenue Acceleration ERA initiative provides for the allocation of 50 billion to Ukraine, of which 20 billion will be provided by the European Union.In December 2024, Ukraine signed an agreement with the EU to establish a Ukraine Loan Cooperation Mechanism ULCM, which will allow the use of proceeds from frozen Russian assets to repay loans worth up to 45 billion euros within the framework of the G7 initiative ERA.Within the framework of the ERA mechanism, Ukraine received 1 billion from the United States in December last year.
In January of this year, the European Union transferred the first 3 billion euros from its own part of the loan to Ukraine.
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