Japan has allocated $230 million to support Ukrainian agriculture

Japan has allocated $230 million to Ukrainian farmers as part of a project to restore agriculture. This was reported by the Press Service of the Verkhovna Rada of Ukraine, according to UNN.

Details

Ukraine has received important financial support from Japan in the amount of $230 million to support the country's agricultural sector.

According to the Ministry of Finance, the Government of Japan has provided a $230 million loan under the Agricultural Rehabilitation and Industrial Recovery Project (ARISE). These funds were drawn from the Trust Fund for the Promotion of Necessary Credit Expansion for Ukraine (ADVANCE Ukraine).

The ARISE project aims to support agricultural producers' access to finance through concessional lending, including compensation for expenses under the 5-7-9 program, and to improve small farmers' access to grants.

It is noted that the total funding for the project is $550 million. Of this amount, $500 million will be used to finance the State Program "Affordable Loans 5-7-9%" in 2023-2024 with a focus on agricultural enterprises, and almost $50 million is provided for grants for small farmers.

Add

In March of this year, Ukraine has already received financial assistance from the European Union in the amount of 4.5 billion euros, a loan from Canada for 2 billion Canadian dollars (1.5 billion dollars), and a new tranche from the International Monetary Fund in the amount of about 880 million dollars.

According to the Ministry of Finance of Ukraine, the total amount of external financing inflows in March 2024 reached $7.5 billion, which is an absolute monthly record in the country's history.

Japan to provide $12.1 billion in aid to UkraineFeb 19 2024, 03:58 PM • 28593 views