The Japanese government will pledge 15.8 billion yen ($106 million) to assist Ukraine’s reconstruction across seven key areas, sources familiar with the plans told Kyodo News on 11 February 2024.
The aid package will be formally unveiled at the Japan-Ukraine Conference for Promotion of Economic Reconstruction in Tokyo on 19 February. Over 300 government and business leaders will attend, including Prime Ministers of Japan and Ukraine, Fumio Kishida and Denys Shmyhal.
The pledge comes amidst global worries that waning military support from Western allies may hamper Ukraine’s defense as the Russian invasion approaches its second anniversary. While unable to provide arms under its constitution, Japan seeks to demonstrate its unwavering commitment to Ukraine by providing humanitarian and financial aid.
The $106 million will finance urgent needs like demining equipment, temporary bridges, and agricultural expansion to start rebuilding efforts. Other cooperation areas span healthcare, IT, infrastructure, humanitarian aid, industrial technologies, and governance reforms.
Several bilateral deals can also be signed, including medical partnerships, cybersecurity collaboration, and wind farm projects. The two countries plan to launch investment treaty talks to spur private Japanese investment in Ukraine.
A long-awaited taxation agreement eliminating double-tax burdens for Japanese firms operating in Ukraine is also nearing conclusion.
With Ukraine’s reconstruction costs estimated at over $400 billion for the next decade, Japan hopes its strong public-private partnership model will catalyze the sustainable revival of Ukraine’s battered economy after years of Russian bombardment.
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