• Українською
  • Ukraine received USD 390 million from Japan under the World Bank's INSPIRE and ARISE projects
    Ministry of Finance of Ukraine, posted 31 January 2024 21:06

    The State Budget of Ukraine received about USD 390 million from Japan as part of World Bank projects aimed at social protection and agricultural recovery. 

    Japan’s financial assistance in January consists of a USD 89.8 million grant under the World Bank's Emergency Project for Inclusive Support for the Recovery of Agriculture in Ukraine (ARISE) and part of the loan funds worth USD 300 million in the framework of the Investing in Social Protection for Inclusion, Resilience and Efficiency (INSPIRE) project.

    "I am grateful to the World Bank and the Government of Japan for their strong financial support for Ukraine. The funds raised will be used to compensate the State Budget of Ukraine for priority needs, in particular in the areas of recovery and social assistance. The receipt of such funding is a significant contribution to providing our citizens with the necessary services, which are critical in times of war," said Minister of Finance of Ukraine Sergii Marchenko. 

    The INSPIRE project is financed by a USD 1.2 billion loan from the World Bank from the Trust Fund "Advancing Needed Credit Enhancement for Ukraine" (ADVANCE Ukraine), with the support of the Government of Japan, and is aimed at ensuring social protection of vulnerable groups of the population during and after the war, as well as at strengthening the adaptability of the social support system to respond effectively to the challenges of today and in the future.

    The ARISE project aims to support agricultural producers' access to finance through concessional loans and grants.

    "The coordinated and active cooperation of the Governments of Ukraine and Japan with the World Bank once again ensures the attraction of the necessary funds for social assistance and recovery projects," added Deputy Minister of Finance Olga Zykova.