On June 17, Junichi Yamada, Vice President of the Japan International Cooperation Agency (JICA), and Sergiy Marchenko, Minister of Finance of Ukraine, signed a Loan Agreement (L/A) to add 65 billion yen to the “Emergency Economic Reconstruction and Development Policy Loan”. The total amount of yen loan for this project is 78 billion yen.
This project will provide financial assistance to Ukraine, which is facing an economic crisis due to the military invasion, through co-financing with the World Bank to support the country’s implementation of economic policy reforms, including institutional reforms for de-monopolization and anti-corruption, strengthening of land and financial markets, and enhancement of social security systems.
On May 16, a yen loan agreement of up to 13 billion yen was signed as JICA’s first assistance to the Ukrainian government since the military invasion.
Comments by Vice Chairman Yamada
This additional loan, like the initial financial assistance, will be used to finance expenditures essential to the operation of the country, including health care, education, social security, and salaries of public servants.”
Comments by Finance Minister Marchenko
Last month, Ukraine received a 13 billion yen Emergency Economic Reconstruction and Development Policy Loan from JICA to be used to provide essential public services to the people of Ukraine. We are deeply grateful that this financial assistance has now been increased to ¥78 billion. This assistance is greatly appreciated by Ukraine and the Ukrainian people, who are suffering from unprovoked aggression by Russia.
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