Ukraine and JBIC expand cooperation

On October 22, in Tokyo, Ukraine's Minister of Economy, Environment, and Agriculture Oleksii Sobolev met with the leadership of the Japan Bank for International Cooperation (JBIC). The parties discussed attracting Japanese investments, financial instruments, and technologies for the restoration of Ukraine's energy sector as well as the development of its industry and agricultural sector.

The main areas of expanded cooperation are as follows:

– Energy. JBIC is considering creating a special credit line with extended risk insurance to finance energy projects in Ukraine. This involves the supply of Japanese equipment – batteries, gas turbines, power electronics – as well as the transfer of technology for localised production in Ukraine.

– Leveraging investment. The parties discussed the provision of targeted technical assistance for reforms in the areas of privatisation and public-private partnerships in order to attract more actively Japanese private capital to large projects.

– Cooperation in the agricultural sector. Ukraine and JBIC plan to jointly finance projects to create modern logistics and processing centers, as well as cooling storage facilities for the agricultural sector. The selection of potential projects will be coordinated jointly with the UkraineInvest.

The parties also focused on developing financial mechanisms for humanitarian demining of agricultural land, investing in critical minerals such as titanium and lithium, in cooperation with the U.S. International Development Finance Corporation (DFC), and expanding war risk insurance programs.

 “Ukraine is eager to engage in long-term cooperation with Japan, ranging from energy to agriculture. JBIC is one of our major partners, capable of supporting Ukraine’s economic recovery through technology, finance, and investment,” said Oleksii Sobolev.

JBIC confirmed its readiness to support large investment projects in Ukraine, especially in the areas of green energy, industry, and logistics.