Ukraine to receive $3.3 billion loan from Japan to be repaid with proceeds from frozen Russian assets - media
Kyiv • UNN
Japan plans to provide Ukraine with a $3.3 billion loan as part of a $50 billion financial support package from the Group of Seven countries, which will be repaid from the proceeds of frozen Russian assets.
Japan is planning to provide Ukraine with $3.3 billion in loans as part of financial support from the G7 countries. This financing involves the use of interest from frozen Russian assets, which was a reaction to Russia's aggression against Ukraine. Written by UNN with reference to Kyodo.
Details
After the G7 summit in Italy in June, it was decided to allocate a total of $50 billion to help Ukraine.
The United States and the European Union are expected to responsibly commit $20 billion each, while Japan, the United Kingdom, and Canada plan to share the remaining $10 billion. The initiative is expected to be implemented by the end of this year.
France, Germany, and Italy may not join the loan project, as the European Union is already implementing a similar support program, sources say.
Finance ministers and central bank governors of the G7 countries will discuss this issue at the upcoming meeting in Rio de Janeiro with their G20 counterparts.
The loan agreement comes amid concerns about growing “Ukraine fatigue” and doubts about how long the United States and other allies will be able to support Ukraine with weapons and help rebuild its infrastructure. In their communiqué after the summit in Italy, the G7 leaders noted that they plan to disburse funds in accordance with the requirements of their legal and administrative systems.
Recall
Japan has simplified its visa regime for Ukrainian citizens since June 24 to promote cultural exchange, commercial relations, and support Ukraine's recovery.
