Government approves decision to secure USD 3 billion from Japan under ERA mechanism

The Government has approved a decision to secure funding from Japan under the ERA mechanism, aimed at supporting key economic and social sectors. This was announced by Prime Minister Denys Shmyhal during a Cabinet meeting on 30 May.

“This is nearly USD 3 billion, backed by revenues from frozen russian assets, to finance priority budget expenditures,” he stated.

According to Denys Shmyhal, the Government and the IMF have reached a staff-level agreement on the eighth review of the Extended Fund Facility (EFF) programme. It is expected that, following approval by the IMF Executive Board, Ukraine will receive a new tranche of approximately USD 500 million.

The Prime Minister emphasised that, despite challenges caused by the war, Ukraine continues to maintain macro-financial stability even under difficult conditions.