US$3bn from Japan to fund critical Ukrainian needs – Ukraine's PM

Ukraine will receive nearly US$3 billion from Japan as part of the G7 countries' Extraordinary Revenue Acceleration for Ukraine (ERA) initiative.

Source: Ukrainian Prime Minister Denys Shmyhal on Telegram

Details: Shmyhal stated that the Cabinet of Ministers (the Government of Ukraine) had adopted a decision necessary to secure the funds, which will be backed by revenue from frozen Russian assets.

"We will direct these funds towards financing our priority budget expenditures," he said.

Background:

• On 18 April, Ukraine’s Finance Minister Serhii Marchenko and Ambassador Extraordinary and Plenipotentiary of Japan to Ukraine Masashi Nakagome signed an agreement on the provision of a loan in the amount of up to 471.9 billion Japanese yen (about US$3 billion) to Ukraine.
• Ukraine is expected to receive US$3 billion from the windfall profits of frozen Russian assets between 2025 and 2026.
• Finland signed an agreement with the European Commission to supply heavy munitions to Ukraine, purchased with funds from frozen Russian assets.
• The European Union officially announced plans to allocate nearly €1.9 billion in military support for Ukraine.

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