Ukraine received $1.3 billion from Japan: what will the funds be used for?

Ukraine received almost $1.3 billion from the Japanese government as part of the World Bank’s PEACE in Ukraine project.

This was announced by Prime Minister Yulia Svirydenko.

The funds have already been received into the state budget and will be used for social spending.

This is the second tranche from Japan under the Extraordinary Revenue Acceleration for Ukraine mechanism, which the G7 countries launched to support Ukraine. The total volume of this program is $50 billion.

Since the start of the full-scale war, Japan has already provided Ukraine with over $10.7 billion in budget support, of which over $2.7 billion is in the form of grants.

As a reminder, the Japanese government is allocating 6.2 billion yen, which is about 41 million dollars , for Ukraine’s priority reconstruction needs.

As reported, Ukraine received $690 million in grant support from Japan and Canada within the Extraordinary Revenue Acceleration for Ukraine mechanism of the G7 countries.

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