Japan provides Ukraine with $235 million to support education and private sector
As part of the World Bank's LEARN and RISE projects, Ukraine received $235 million from the Government of Japan to support education and the private sector.
This was reported by the Ministry of Finance of Ukraine, Censor.NET reports.
"The State Budget of Ukraine received USD 235 million in concessional financing from the Government of Japan under the new World Bank systemic projects "Sustainable, Inclusive and Environmentally Balanced Entrepreneurship" (RISE) and "Increasing Accessibility and Resilience of Education in Times of Crisis in Ukraine" (LEARN)," the statement said.
Thus, the RISE project received a $130 million loan with the support of Japanese financial resources. The project aims to address critical issues that hinder the resilience, growth, and sustainable development of the private sector.
Japan has provided another $105 million under the LEARN project, which is the result of the Government of Ukraine's implementation of measures to ensure safe face-to-face education in schools by providing subventions for shelters and school buses in 2024. As noted, the key goal of the program is to improve the educational process in Ukraine under martial law by creating safe and comfortable conditions for teachers and students.
Minister of Finance Sergii Marchenko thanked the Government of Japan and the World Bank team for supporting key sectors of the economy. He also said that since February 2022, budget support from Japan through the Bank's mechanisms has reached about USD 6 billion.
In addition, the Ministry of Finance reported that by the end of 2024, Ukraine expects to raise another $120 million and $95 million under RISE and LEARN, respectively.
