Japanese Delegation Announces €160 Million for Ukraine's Reconstruction

A delegation from Japan, led by representatives from the Ministry of Foreign Affairs and the Ministry of Industry, along with business representatives, has arrived in Kyiv. It has been announced that Japan will provide €160 million to Ukraine for economic recovery. 

This was reported by Reuters.

The Japanese delegation plans to discuss the details of the upcoming Ukraine Reconstruction Conference, scheduled to take place in Japan in early 2024, with the Ukrainian side.

For this purpose, the delegation includes Kazuchika Iwata, the Minister of Economy, Trade, and Industry of Japan, Kyoto Tsuji, the Minister of Foreign Affairs, and members of the biggest business lobby, "Keidanren," which coordinates the committee on Ukraine's recovery.

According to the Japanese government's statement, this visit will provide an opportunity to hear about Ukraine's needs and discuss specific projects, speeding up both state and private efforts to provide necessary assistance to Kyiv.

The delegation has already held a meeting with Ukrainian Prime Minister Denys Shmyhal. During the meeting, the Japanese side announced the provision of €160 million to support Ukraine's economic recovery projects.

"We have outlined our priorities for quick recovery: energy, housing, critical infrastructure, humanitarian demining, and business support. Grateful to the Japanese delegation for today's mission, which will contribute to further involvement of Japanese companies in the reconstruction," said Denys Shmyhal.

Additionally, the Prime Minister emphasized that Ukraine is interested in creating joint ventures, including in the agricultural sector, metalworking, mechanical engineering, critical raw materials, and IT.

Shmyhal noted that Japan's experience in post-war recovery "can be useful for Ukraine's economic recovery."

It's worth mentioning that the first event dedicated to post-war reconstruction in Ukraine took place in July 2022 in Switzerland, with representatives from 40 countries participating. Another forum on recovery, the Ukraine Recovery Conference 2023, took place in June in London.

According to the National Council for Reconstruction of Ukraine, the overall economic losses for Ukraine due to the war, including direct and indirect damages, range from $564 billion to $600 billion USD.