On January 16, the Cabinet of Ministers of Ukraine adopted a decision to sign an Agreement on deferral of payments for repayment and servicing of loans raised in the framework of cooperation between the Government of Ukraine and the Government of Japan.

During a meeting with Ambassador Extraordinary and Plenipotentiary of Japan to Ukraine Kuninori Matsuda, Minister of Finance of Ukraine Serhii Marchenko signed the said Agreement in the form of an exchange of notes between the Governments of Ukraine and Japan.

The agreement provides for rescheduling of debt obligations in the amount of about USD 50 million (JPY 8 billion) on loans raised under four loan agreements to 2027-2031.

“I am grateful to the Government of Japan for understanding Ukraine’s needs and supporting our financial system. The deferral of payments on servicing and repayment of loans will allow to reduce the debt burden on the state budget and allocate funds to finance the needs of security and defense,” said Serhii Marchenko during the meeting with Kuninori Matsuda.

The Minister of Finance also noted that this year he counts on the support of Japan, which will preside over the G7 in 2023, and the strengthening of cooperation between the governments of the countries.