Japan to provide Ukraine with $300 million loan

The Prime Minister of Ukraine, Arseniy Yatsenyuk, reached an agreement with the Japanese government that will provide Ukraine with a loan worth $300 million. Expreso.TV reported that the document was signed by the Prime Minister of Ukraine, Arseniy Yatsenyuk, Ukraine’s Finance Minister, Natalia Yaresko, and the Japanese Ambassador to Ukraine, Shigeki Sumi.

The Japanese Ambassador stated that last year, Japan had provided $100 million worth of support for Ukraine. Therefore, the total budget support granted to the Ukrainian government by the Japanese will reach $400 million. “The people of Japan express their sympathy and solidarity with the people of Ukraine, who face an unprecedented crisis, caused by Russia.”

“Japan will continue to support Ukraine in its fight against the illegal annexation of Crimea and with its operations against separatists in eastern Ukraine,” Shigeki Sumi added.

Shigeki also stated that certain conditions have to be fulfilled in order for Japan to continue its support, including the stipulation that the Ukrainian government must overcome its rampant corruption and its lack of transparency. According to the Japanese representative, a strong and independent court and prosecutor’s office can help the Ukrainian government overcome these obstacles.

“The loan is aimed at improving efficiency and the transparency of the public sector, including deregulation and the improvement of business conditions in our country,” Natalia Yaresko said.

According to Yaresko, Japanese government agreed to a new loan because Ukraine has implemented a number of structural reforms designed to aid the recovery of the financial and banking sectors. Yatsenyuk stated that this loan was provided to Ukraine because the country fully meets its responsibilities to the International Monetary Fund (IMF) and other creditors.

  Ukraine, Japan, loan, Yatsenyuk

Comments

Please visit out Twitter account for updates on the situation in Ukraine.