Ukraine secures $1B from Japan, UK to support reforms

Ukraine has received a $1 billion tranche to the State Budget as part of the Second Growth Foundations Development Policy Loan (DPL) Programme, Report informs via The Odessa Journal.

The funding consists of $567 million guaranteed by the Government of Japan under the ADVANCE Ukraine Targeted Fund for providing Ukraine with necessary credit support, and $483 million guaranteed by the Government of the United Kingdom.

"The funds raised will be directed towards increasing the potential for economic development and financing urgent social and humanitarian expenditures of Ukraine's State Budget. We are grateful to the World Bank, Japan, and the United Kingdom for their significant support of the state budget during this challenging period," said Ukraine's Minister of Finance, Serhiy Marchenko.

The goal of the DPL project is to support the implementation of reforms in Ukraine. Ukraine receives the corresponding tranche as a result of meeting the programme's requirements.

The tranche is based on achievements in ensuring sustainable growth in areas such as customs and tax policy, anti-corruption efforts, support for state-owned enterprises, private sector development, and logistics infrastructure.

"Ukraine is committed to the reform process even under martial law. This not only attracts critically important resources but also contributes to further economic growth and recovery, along with supporting the country's continued European integration," added Deputy Minister of Finance Olha Zykova.