Ukrainian govt approves nearly $3 bln in Japanese funding for priority budget expenditures
Ukraine's Cabinet of Ministers has approved the attraction of nearly $3 billion from Japan, backed by proceeds from frozen Russian assets, to support priority budget expenditures, Prime Minister Denys Shmyhal announced.
"Despite extremely difficult conditions, Ukraine continues to maintain macro-financial stability... Today, we are approving the decision to attract funds from Japan – nearly $3 billion backed by income from frozen Russian assets – to finance Ukraine's priority budgetary needs," Shmyhal said during a government meeting on Friday.
He also reminded attendees that Ukraine has already reached a staff-level agreement on the eighth review of its cooperation program with the International Monetary Fund (IMF). Following approval by the IMF Executive Board, the government expects to receive a new tranche of around $500 million.
