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Japan to provide Ukraine with $400 million grant for reconstruction

by The Kyiv Independent news desk March 30, 2023 4:53 PM 1 min read
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Japan will provide Kyiv with a $400 million grant for the recovery of Ukraine's critical infrastructure heavily damaged by Russian attacks, Infrastructure Ministry reported on March 30.

With these funds, the Ukrainian government plans to purchase equipment and services necessary for the reconstruction, according to the report.

Japan's decision will soon be finalized by a corresponding grant agreement with the Japan International Cooperation Agency, coordinating Tokyo's assistance to other countries.

Since the start of the year, Japan has committed $650 million for the needs of Ukraine's recovery, according to the Infrastructure Ministry.

"These funds allow us to promptly restore critical infrastructure, improve the economic situation in communities, and create conditions for Ukrainians to return home," said Ukraine's Infrastructure Minister Oleksandr Kubrakov.

Japan will also allocate $70 million in grant support for Ukraine's reconstruction through the United Nations Development Program, adds the report.

The Kyiv School of Economics said in its latest assessment that the total damages in Ukraine caused by Russia's war had reached almost $143.8 billion.

According to the KSE figures, Russia's war has damaged or destroyed over 150,000 residential buildings, including houses, apartment buildings, and dormitories, totaling $53.6 billion in damages.

Damages to infrastructure are estimated at $36.2 billion.

World Bank: Ukraine needs $411 billion for recovery
The World Bank has increased its assessment of Ukraine’s needs for recovery and reconstruction to at least $411 billion based on the damages caused by the first year of Russia’s all-out war, Bloomberg reported on March 23. This figure is equivalent to 2.6 times Ukraine’s projected gross domestic pro…

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