The State Budget of Ukraine received $118 million on an irrevocable basis from the Government of Japan as part of World Bank projects.
What will the funds from Japan's aid be spent on
The Ministry of Finance reports that the funds were received within the framework of the projects "Strengthening the Health Care System and Preservation of Life" (HEAL Ukraine) and "Housing Repair for People's Empowerment Project" (HOPE).
The involved grant funding from the Government of Japan consists of:
$70 million as part of the HEAL Ukraine project of the World Bank aimed at supporting the state budget as compensation for expenses incurred under the medical guarantee program.
$48.2 million as part of the World Bank project "Housing Repair for People's Empowerment Project" (HOPE). Funds under the project are directed to reimbursement of state budget expenses used for compensatory payments to apartment owners for repairs in multi-apartment and private buildings that require small and medium repairs.
According to Finance Minister Serhiy Marchenko, the funds will help Ukraine provide its citizens with adequate assistance, expand the range of medical services and access to them, and rebuild Ukraine's housing infrastructure.
Advance aid to Japan
On March 29, Ukraine received a $1.5 billion loan from Japan and Great Britain to support the development policy "Development Policy Loan" (DPL).
Funds were also raised through the World Bank.
The fulfilment of 8 requirements, including harmonizing Ukraine's customs and tax legislation to EU standards, improving fiscal policy and regulating capital markets, and ensuring transparency and accountability in the electronic procurement system, was a prerequisite for providing funds.
"Development Policy Loan" (DPL) is a project aimed at reforming corporate governance, improving fiscal policy, and implementing EU customs and tax experience in Ukraine.
