Ukraine receives $ 950 mn from Japan for recovery and social protection

Ukraine secures $952.4 million from Japan for recovery and social support, encompassing a $52.4 million grant and a $900 million loan. The post Ukraine receives $ 950 mn from Japan for recovery and social protection appeared first on Euromaidan Press.

Dec 21, 2023 - 21:45

Ukraine receives $ 950 mn from Japan for recovery and social protection

Ukraine’s state budget received $952.4 million from Japan as part of World Bank projects, as reported by Ukraine’s Ministry of Finance. The funds will be used to reimburse the expenditures of the state budget of Ukraine in the field of recovery and social assistance.

“The funding consists of a grant from Japan in the amount of $52.4 million. The funding consists of a $52.4 million grant from Japan under the Housing Opportunities for People’s Empowerment (HOPE) project and a USD 900 million loan from the Government of Japan under the Investing in Social Protection for Improved Reach, Resilience and Efficiency (INSPIRE) project,” the Ministry wrote.

The INSPIRE project is funded through a $1.2 billion loan from the World Bank, disbursed via the ADVANCE Ukraine Targeted Fund. It is supported by the Japanese Government and aims to provide social protection for vulnerable populations during and after conflicts, improve access to social assistance and services, and enhance the adaptability of the social support system to effectively respond to present and future challenges.

Ukrainian MP Yaroslav Zhelezniak says Japan’s financial assistance to Ukraine since the beginning of Russia’s full-scale war has exceeded $3 billion, and it has become the third largest donor country after the United States and Canada.

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The post Ukraine receives $ 950 mn from Japan for recovery and social protection appeared first on Euromaidan Press.