Ukrainian Finance Minister Serhiy Marchenko met with Japan's Ambassador to Ukraine Matsuda Kuninori and Shohei Hara, Senior Vice President of the Japan International Cooperation Agency (JICA). The meeting also included Deputy Ministers Olha Zykova and Oleksandr Kava, and Government Commissioner for Public Debt Management Yuriy Butsa.
The discussions focused on Ukraine's current economic situation, priority areas for recovery, and the implementation of joint projects.
Minister Marchenko expressed gratitude for Japan's leadership in financial support, highlighting that Japan's budgetary assistance has reached $6.3 billion since February 2022, with nearly $1 billion in grants. Japan is the second-largest financial supporter globally (after the USA) and fourth among all international partners (after the EU, USA, and IMF).
In 2022, Japan provided $581 million in concessional financing through JICA. The Minister expressed hope for continued Japanese budgetary support and an expanded partnership in Ukraine's recovery. Japan's experience in project management and recovery is highly valuable for Ukraine.
In 2023, JICA launched the Emergency Recovery Program (Project Phases 1 and 2), and in 2024, Phase 3 of the project, totaling around $640 million in grants. The funds are directed towards rapid recovery efforts, addressing the impacts of the full-scale Russian aggression, transportation and critical infrastructure, and providing equipment for humanitarian demining.
The parties also discussed potential collaboration to support Ukraine's private sector through access to concessional financing.
