Ukraine will receive the first financial proceeds from Japan as part of the use of income from frozen Russian assets in early 2026. This was reported by the Ministry of Finance of Ukraine following a working meeting in Washington with representatives of the Japan International Cooperation Agency (JICA), UNN reports.
Details
The meeting took place between Deputy Minister of Finance Olha Zykova, Government Commissioner for Public Debt Management Yuriy Butsa, and JICA Senior Vice Presidents Shohei Hara and Yuko Mitsui.
JICA provides support to Ukraine in various areas, such as technical cooperation and official development assistance loans, with a primary focus on supporting economic stability and reconstruction.
The ministry reminded that in 2022, Japan provided Ukraine with 581 million US dollars in concessional financing through JICA.
It is noted that the parties discussed further involvement of budget support.
In 2025, Minister of Finance of Ukraine Serhiy Marchenko and Head of JICA Office in Ukraine Hideki Matsunaga signed a Loan Agreement. The document provides for a loan to Ukraine in the amount of 471.9 billion Japanese yen (over 3 billion US dollars). The servicing and repayment of the loan will be carried out at the expense of future revenues received from immobilized Russian assets.
The funds are part of the G7's Extraordinary Revenue Acceleration for Ukraine (ERA) mechanism, totaling approximately 50 billion US dollars. They will be used to finance priority expenditures of the State Budget of Ukraine to support the economy and development of Ukraine.
I am grateful to the Government of Japan for fruitful cooperation. Since 2022, Japan has provided Ukraine with 8.7 billion US dollars in budget assistance, of which 955 million US dollars are grants. External financing remains necessary to maintain stability in the country in 2026 and beyond.
According to the agency, since 2023, Japan has been providing grant assistance to Ukraine under the Emergency Recovery Program totaling over 100.1 billion yen (approximately 698 million US dollars), implemented by JICA.
The assistance aims to support Ukraine in its reconstruction. Under the program, the Government of Japan provides Ukraine with non-repayable financial assistance aimed at restoring critical infrastructure, strengthening energy and social resilience, and improving living conditions for the population.
As part of these projects, Ukraine has already received modern specialized equipment and machinery for the energy, transport, agro-industrial, healthcare, education, waste management, water supply, and humanitarian demining sectors.
The parties discussed aligning available resources for recovery from Japan with the most urgent projects, as well as priority areas of cooperation for the coming months.
The Ministry of Finance team emphasized that reconstruction and recovery require significant resources. Japan's experience in implementing and managing recovery projects is extremely valuable and will help make the recovery process more effective.
JICA representatives assured of continued and expanded support.
Recall
Ukraine and the International Bank for Reconstruction and Development concluded a loan agreement for 246.5 million dollars from Japan. The funds will go to investment management for post-war recovery and reconstruction of the country.