Ukraine has received nearly $1.3 billion from the Japanese government for social spending
This was announced by Prime Minister Yulia Svyrydenko.
The funds for social expenditure were provided as part of the World Bank’s Peace in Ukraine project. It provides for the financing of Ukraine’s social, humanitarian and core government expenditure during the war.
This is the second tranche from Japan, funded under the G7’s Extraordinary Revenue Acceleration for Ukraine mechanism. Its total volume amounts to $50 billion.
Since February 2022, budgetary support from Japan has exceeded $10.7 billion, of which over $2.7 billion has been provided in the form of grants.
Extraordinary Revenue Acceleration for Ukraine (ERA) is a G7 initiative designed to provide Ukraine with financial assistance totalling up to $50 billion.
The mechanism involves using proceeds from frozen Russian assets to finance Ukraine’s budget, covering military, social and humanitarian needs.
