Ukraine will receive USD 3.5 billion from Japan in 2023: Minister of Finance of Japan during a meeting with Sergii Marchenko

During a working visit to the United States, Minister of Finance of Ukraine Sergii Marchenko met with Minister of Finance of Japan Shunichi Suzuki.

The meeting was also attended by Deputy Minister of Finance Olga Zykova, Deputy Minister of Finance for European Integration Yuriy Draganchuk, and Government Commissioner for Public Debt Management Yuriy Butsa.

The parties discussed the needs of the State Budget of Ukraine for the priority areas of recovery and reconstruction of the country.

"Ukraine appreciates Japan's contribution to accelerating our victory in the war, in particular through the regular provision of financial and humanitarian aid and sanctions pressure on russia. As the G7 Chair in 2023, Japan demonstrates principled leadership in keeping the Ukrainian issue on the international agenda and in improving the coordination of financial assistance to Ukraine," said Sergii Marchenko.

The Minister of Finance of Ukraine emphasized that in wartime, external financing plays a key role in maintaining macroeconomic stability due to a significant increase in defense and security spending. 

Shunichi Suzuki confirmed the intention of the Government of Japan to provide Ukraine with USD 3.5 billion in direct budget support in 2023. These funds will help to finance priority social and humanitarian expenditures.

Since the start of the full-scale war, Japan has provided Ukraine with USD 581 million in concessional financing. 

While discussing the country's recovery and reconstruction, Sergii Marchenko noted that Ukraine counts on the support of international partners and the private sector to realize a rapid recovery in 2023. 

According to a joint assessment by the Government of Ukraine, the World Bank, the European Commission and the United Nations, Ukraine's needs for rapid recovery in 2023 are estimated at approximately USD 14.1 billion.

Representatives of the Ministry of Finance of Japan have expressed their willingness to support Ukraine in its recovery, in particular through potential joint projects with the Japan International Cooperation Agency (JICA).