Ukraine has received nearly $1.3 billion from Japan as part of the PEACE in Ukraine project
Ukraine has received nearly $1.3 billion from the Japanese government under the World Bank’s PEACE in Ukraine project.
Ukrainian Prime Minister Yulia Svyrydenko announced this on Telegram.
According to her, the funds have been credited to the general fund of the state budget and will be allocated to social spending.
This is the second tranche from Japan, financed under the G7’s Extraordinary Revenue Acceleration for Ukraine mechanism. The total volume of this mechanism amounts to $50 billion.
Since February 2022, budgetary support from Japan has exceeded $10.7 billion, of which more than $2.7 billion has come in the form of grants.
“We thank the Government of Japan for the grant, as well as the World Bank for effectively coordinating international support. This assistance is extremely important for ensuring Ukraine’s financial stability,” Svyrydenko noted.
Earlier, Ukraine received the first tranche of $1.5 billion from the International Monetary Fund (IMF) under a new four-year program within the Extended Fund Facility (EFF).
As a reminder, the International Monetary Fund, as part of the new financing program, required Ukraine to adopt a package of tax reforms. The deadline for fulfilling these obligations is the end of March.
As a reminder, the International Monetary Fund’s Executive Board approved a new four-year Extended Fund Facility (EFF) program for Ukraine worth $8.1 billion. The first tranche under the program is expected in the near future.
Earlier reports indicated that the IMF Executive Board would consider a four-year loan program for Ukraine worth $8.1 billion on Thursday, February 26.
