Japan signs $100 million loan agreement with Ukraine

17 May, 06:55 PM
Japan will increase the total amount of loans to Ukraine up to $300 million, said Japanese PM (Photo:jorono/pixabay)

Japan will increase the total amount of loans to Ukraine up to $300 million, said Japanese PM (Photo:jorono/pixabay)

Japan signed a 13 billion yen ($100 million) loan agreement with Ukraine, Japanese outlet Japan Today reported on May 17, citing the Japan International Cooperation Agency.

This financial assistance will be co-financed by the World Bank and included in the budget of the Ukrainian government. These funds are not to be spent for military purposes, Japan Today noted.

They will instead be directed to “foster de-monopolization and anti-corruption institutions, strengthen land and credit markets, as well as social safety.”

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The agreement was made after the Prime Minister of Japan Fumio Kishida said in April that the country would increase total loans to Ukraine up to $300 million.

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