President Volodymyr Zelenskyy had a telephone conversation with Japanese Prime Minister Shigeru Ishiba on December 25. He announced that Tokyo would transfer another $3 billion from frozen Russian assets to Kyiv.
Points of attention
- Japan has committed to providing Ukraine with $3 billion secured by frozen Russian assets for economic development and social needs.
- President Zelenskyy expressed his gratitude for Japan's support in achieving peace and highlighted the areas where the funds will be directed, including customs, taxes, anti-corruption, private sector development, and infrastructure.
- The funds received from Japan, along with a tranche from the World Bank program, will be used to support the 'Growth Platform' development policy in Ukraine.
- The DPL program will focus on implementing reforms in key areas such as customs and tax policy, anti-corruption measures, support for state-owned enterprises, private sector development, and logistics infrastructure.
- Ukraine's Minister of Finance noted that the funds will help in developing the country's economic potential and addressing priority social and humanitarian needs.
Japan to provide Ukraine with $3 billion from frozen Russian assets
The president announced this in a telegram.
I am grateful for the decision of the Japanese government to transfer another $3 billion to Ukraine, secured by frozen Russian assets, and for additional assistance for energy equipment and the construction of shelters.
Volodymyr Zelenskyy
President of Ukraine
Zelensky congratulated Shigeru Ishiba on his election as head of the Japanese government and thanked him for the total assistance to the state totaling $12 billion.
He told Prime Minister Ishibi about Russia's massive shelling of Ukraine's energy infrastructure on Christmas Eve and thanked Japan for its willingness to work to achieve a just and lasting peace as soon as possible.
At the same time, Zelenskyy and Ishiba agreed to meet to continue the dialogue.
Where will the funds received from Japan and Britain be directed?
The state budget of Ukraine received a tranche of $1 billion under the World Bank program to support the "Growth Platform" (DPL) development policy.
As reported by the Prime Minister of Ukraine Denys Shmyhal, the tranche consists of:
567 million US dollars under guarantees from the Government of Japan within the framework of the ADVANCE Ukraine Trust Fund,
483 million US dollars under the guarantee of the UK government.
Minister of Finance Serhiy Marchenko noted that these funds will be directed to developing Ukraine's economic potential and financing priority social and humanitarian needs of the state budget.
The DPL program is aimed at supporting the implementation of reforms in Ukraine. The tranche was made possible by achieving key indicators in the following areas:
customs and tax policy,
fight against corruption,
support for state-owned enterprises,
private sector development,
logistics infrastructure.
