On July 19, Minister of Finance of Ukraine Sergii Marchenko met with President of the Japan International Cooperation Agency (JICA) Akihiko Tanaka.
The meeting was also attended by Deputy Minister of Finance of Ukraine Olga Zykova, Government Commissioner for Public Debt Management Yuriy Butsa and Ambassador Extraordinary and Plenipotentiary of Japan to Ukraine Matsuda Kuninori.
During the meeting, the parties discussed the current economic situation in Ukraine, the priority areas of recovery and the implementation of joint projects.
“International financial assistance remains vital for maintaining overall stability in the country. I am grateful to the Government of Japan for the fruitful cooperation, including the provision of direct budget support through the JICA mechanisms,” the Minister of Finance of Ukraine said.
In 2022, Japan provided Ukraine with $581 million in concessional financing through JICA. This year, the Government of Japan is expected to provide $3.5 billion in direct budget support through the World Bank Trust Fund.
Particular attention was paid to discussing the preparation and implementation of joint recovery projects.
In particular, the parties discussed the alignment of the available recovery resources from Japan with the most urgent projects, as well as the priority areas of cooperation for the coming months. In addition, the Minister of Finance of Ukraine noted that the recovery requires the involvement of foreign businesses.
Sergii Marchenko also emphasized the commitment of the Government of Ukraine and the Ministry of Finance to fight corruption, minimizing possible risks for foreign investors.
The President of JICA assured of continued and expanded support and noted that the agency plans to open a representative office in Ukraine in the near future, which would facilitate better coordination between the parties and deepen cooperation. Sergii Marchenko added that Japan’s experience in implementing and managing reconstruction projects was extremely valuable and would help make the reconstruction process more efficient. (Government portal/Business World Magazine)
