Japan, Ukraine inks USD100M loan contract due to conflict wi...| MENAFN.COM

Saturday, 02 July 2022 08:52 GMT

Japan, Ukraine inks USD100M loan contract due to conflict with Russia


(MENAFN) Ukraine has signed a 13 billion yen (USD100 million) loan contract with Japan due to the continuing conflict with Russia.

The contract was inked by Ukrainian Finance Minister Sergii Marchenko and Akihiko Tanaka, leader of the Japan International Cooperation Agency (JICA).

The loan is the first part of economic support of around USD300 million contracted between Ukraine and Japan after Russia started an attack on its borderer on Feb. 24.

On Monday, Marchenko stated in an announcement that the money “will be directed to the state budget to finance priority expenses.”

The announcement stated that “The signed agreement refers to the budgetary support for the stabilization of the situation in Ukraine, in particular, the provision of priority social, and humanitarian expenditures, health care, support for internally displaced persons, and other priority expenditures.”

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