Category: Latest news

Japan to Provide Over $3 Billion to Ukraine from Frozen Russian Assets

Oct 28, 2024 16:52

1 min read

Authors: Ivan Khomenko
AUTHOR

Ukrainian President Volodymyr Zelenskyy and Japanese Prime Minister Fumio Kishida at Hiroshima Peace Memorial Park on May 21, 2023. (Source: Getty Images)

Japan will extend financial assistance to Ukraine amounting to more than $3 billion through a G7 credit scheme funded by income from frozen Russian assets.

This decision was confirmed by the Japanese government on Monday, October 28, 2024, as reported by Nikkei and Kyodo News.

Under the plan, Ukraine is set to receive 471.9 billion yen (approximately $3.09 billion) as part of a broader G7 initiative totaling $50 billion. The funds will be channeled through the Japan International Cooperation Agency (JICA) in cooperation with the World Bank.

Japan is expected to maintain oversight of how these funds are utilized to prevent any allocation for military purposes. Further details regarding the timeline for the disbursement of these funds to Ukraine remain undisclosed.