Japan boosts Ukraine with $1.3B aid and drone tech investment
Ukraine has received nearly $1.3 billion in financial assistance from Japan through a World Bank program, with the funds allocated to support the state budget and social spending.
According to statement from Prime Minister Yuliia Svyrydenko, the funding was delivered under the World Bank's PEACE in Ukraine project. Svyrydenko confirmed that the funds have been transferred to the general fund of the state budget and will be used for social expenditures.
"This assistance is extremely important for ensuring Ukraine's financial stability," Svyrydenko said.
The funding represents the second tranche provided by Japan under the G7's Extraordinary Revenue Acceleration for Ukraine (ERA) mechanism.
The initiative is financed through profits generated from immobilized Russian sovereign assets and is designed to mobilize up to $50 billion in total support for Ukraine.
Details indicate that the funds are structured as part of a broader financial mechanism in which loans are repaid using proceeds derived from frozen Russian assets held abroad.
Japan's total budgetary support to Ukraine since February 2022 has exceeded $10.7 billion, including more than $2.7 billion in grants.
Earlier, Japanese firm Terra Drone entered Ukraine's defense tech sector through an investment in local developer Amazing Drones, aiming to scale production of low-cost interceptor drones capable of countering threats such as Shahed-type attack drones.
The systems, designed for frontline conditions, can reach speeds of up to 300 km/h and are being developed with increasing autonomy, including automated launch and target interception.
Read also:
- India's Agriculture Minister Reviews Sector Progress Amid Heavy Rains, Crop Areas Up
- Cyprus, Kuwait Strengthen Strategic Partnership with Upcoming Ministerial Meeting
- Inspired & Paddy Power Extend Virtual Sports Partnership for UK & Ireland Retail
- South West & South East England: Check & Object to Lorry Operator Licensing Now
