Japan to provide Ukraine with $3bn at the expense of Russian assets

Japan will provide Ukraine with a loan of about $3 billion under the G7 ERA mechanism using the proceeds of frozen Russian assets. The agreement was signed by Finance Minister Sergii Marchenko and Ambassador of Japan Masashi Nakagome. The loan is for 30 years and will be serviced using future income from frozen Russian sovereign assets.

The proceeds will be used to finance priority budgetary needs, reconstruction and development of Ukraine. According to Marchenko, this agreement confirms Japan's commitment to common values, as well as its significant contribution to supporting Ukraine - over the past three years, Tokyo has already provided more than $8.5 billion in budgetary assistance.

Source: Suspilne News