Ukraine to raise almost $3bn from Japan under guarantees of proceeds from Russian assets

Ukraine will raise almost $3 billion from Japan under guarantees of income from Russian assets. Photo: Telegram/Denys Shmyhal

The Cabinet of Ministers of Ukraine has approved raising almost $3 billion from Japan. The money will be provided under guarantees of income received from frozen Russian assets.

This was announced by Prime Minister Denys Shmyhal during a government meeting on 30 May.

According to Denys Shmyhal, these funds will be used to finance the priority needs of the state budget. He stressed that even in times of war, Ukraine maintains macro-financial stability.

In addition, the Prime Minister reminded that the government has already reached a preliminary agreement on the eighth revision of the cooperation programme with the IMF. After the document is approved by the IMF Executive Board, Ukraine expects to receive another tranche of about $500 million.

Earlier, Japan agreed to provide Ukraine with satellite geospatial data, including radar images from orbit.