Japan will grant Ukraine a loan of 471.9 billion yen ($3.08 billion) as part of the G7’s “Emergency Revenue Accelerating Loans for Ukraine” (ERA) initiative, using frozen Russian assets.
The Japan International Cooperation Agency (JICA) will provide the loan through a World Bank fund.
Out of the approximately $50 billion pledged under the G7 initiative, the European Union will contribute €18.115 billion, the United States $20 billion, Canada 5 billion Canadian dollars ($3.6 billion), and the United Kingdom 2.258 billion pounds sterling (nearly $3 billion).
Each G7 country will sign an individual loan agreement with Ukraine, disbursing the funds in parts from Dec. 1, 2024, until the end of 2027.
“The repayment term will be at least 30 years. If the investment return on the frozen Russian assets exceeds the principal and interest, it will be used for early repayment,” the report states.
As a reminder, Ukraine may receive up to $50 billion from G7 nations, with repayment funded by interest earned on Russia’s blocked assets.
