Ukraine may receive a $3.3 billion loan from Japan using the interest earned on frozen Russian assets, Hromadske reports.
This was reported by the Japanese newspaper Kyodo, which cited its own sources in diplomatic circles.
The distribution of aid will be coordinated by the G7 members after their leaders agreed to allocate $50 billion to support Ukraine during the summit in Italy in June.
The US and EU will provide $20 billion each. Japan, the United Kingdom, and Canada will share the remaining $10 billion, Kyodo’s own sources said. The project is planned to start this year.
In addition, the publication noted that other G7 members – France, Germany, and Italy – are unlikely to participate in this program, as the EU already has a similar support plan.
Kyodo writes that the loan agreement was concluded amid concerns about “Ukraine fatigue,” as doubts remain about how long the United States and other partners will be able to help Kyiv with weapons and help rebuild its destroyed infrastructure.
Use of funds from frozen Russian assets for Ukraine
On May 21, the EU Council supported the use of proceeds from the frozen assets of the Russian Central Bank to help Ukraine. Within a year, Ukraine will receive up to 3 billion euros, and 90% of this amount will go to the Armed Forces of Ukraine.
The Council of the European Union has also confirmed the agreement on the use of proceeds from the frozen assets of the Russian Federation.
The EU plan envisages that Ukraine will be transferred the net profit from the frozen Russian assets of the Central Bank of the Russian Federation, which the European depository Euroclear received on February 15.
