Ukraine and the Japan International Cooperation Agency (JICA) have signed an agreement necessary to receive $3 billion under the Extraordinary Revenue Acceleration (ERA) initiative.
This was announced by Prime Minister Denys Shmyhal on Telegram.
"Ukraine and the Japanese agency JICA have signed an agreement necessary to receive $3 billion under the ERA initiative. The funds will be repaid using revenue generated from frozen Russian assets. We will allocate these resources to priority budget expenditures aimed at economic development and strengthening Ukraine," wrote the head of government.
Shmyhal expressed gratitude to the Japanese representatives and G7 partners for the mechanism that forces Russia to pay. In total, $14.7 billion has already been received by Ukraine within the framework of ERA.
"We continue to work on an international instrument that will allow the confiscation of all frozen Russian assets in favor of Ukraine," the Prime Minister added.
