Ukraine's prime minister on Japan-Ukraine Conference: over 50 agreements signed

A total of 56 agreements have been signed in Tokyo during the Japan-Ukraine Conference for Promotion of Economic Growth and Reconstruction, including an agreement on a loan to support Ukrainian businesses.

Source: Ukrainian Prime Minister Denys Shmyhal on Telegram

Details: "Japan has become one of the leaders in economic recovery and the restoration of our country. We saw an enormous interest from Japanese businesses in launching new projects," Shmyhal said.

Among the listed outcomes of his visit to Japan were the following:

• reaching agreements to provide Ukraine with a grant to implement the Japan International Cooperation Agency’s (JICA) Emergency Recovery Program. The funds will be used to rebuild Ukraine’s energy sector, the transportation industry, and for demining;
• signing agreements between Ukraine’s Ministry of Agrarian Policy and Japanese companies that produce agricultural machinery;
• outlining a plan for the Japan Urban Revitalization Agency to help with rebuilding Ukrainian settlements destroyed by Russia;
• the Japan Water Resources Agency will help restore dams destroyed by Russia;
• Japan’s INI Corporation will help build a strategically important bridge across the Danube and a bridge across the Dnistro (Dniester) Estuary;
• signing a Memorandum of Understanding between Ukraine and the Japan External Trade Organization (JETRO) to help Ukrainian producers enter the Japanese market;
• JETRO and the European Bank for Reconstruction and Development (EBRD) will cooperate to establish relations between Ukrainian small and medium-sized enterprises and Japanese firms;
• Nippon Export and Investment Insurance NEXI, a Japanese insurance corporation owned by the Japanese government, will open credit lines for investment and exports to Ukraine; Japan will allocate 1.25 billion euros to support Japanese investment in Ukraine;
• Japan Bank for International Cooperation (JBIC) will provide a US$150 million loan to support recovery projects by Ukrainian businesses through the Black Sea Trade and Development Bank.

Shmyhal thanked the Japanese government, business representatives, and everyone else who participated in the conference.

Background:

• Japan will provide Ukraine with US$12.1 billion in financial assistance. A US$4.7 billion grant will be disbursed by the end of February.
• On 19 February, Japan allocated 1.25 billion euros to support Japanese investors in Ukraine, with agreements being signed during the Japan-Ukraine Conference for Promotion of Economic Growth and Reconstruction in Tokyo.
• In the first months of 2024, Japan became the largest donor of financial aid to Ukraine, with Japanese aid expected to reach about US$2.2 billion in the first quarter of 2024.

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