Ukraine and Japan have signed an agreement to provide Kyiv with a loan of about $3 billion. The document, signed by Ukrainian Finance Minister Serhiy Marchenko and Japanese Ambassador to Ukraine Masashi Nakagome, provides for financing under the G7 initiative called Extraordinary Revenue Acceleration (ERA). The total volume of the program is $50 billion, and the funds will be repaid from revenues from frozen Russian assets. This was reported by the Ministry of Finance of Ukraine on April 18, 2025.

The funds received from Japan will be used for priority budget expenditures, including social payments, support for the work of state institutions and ensuring economic stability. In addition, part of the loan will be used to restore the infrastructure destroyed as a result of military actions. Serhiy Marchenko noted that the agreement with Japan strengthens international support for Ukraine and demonstrates the unity of the G7 countries in countering Russia. The loan is provided for 30 years with preferential terms, which allows Ukraine to effectively manage its debt obligations.

The ERA initiative, under which Japanese funds are allocated, is an innovative mechanism for using the proceeds of frozen Russian assets to support Ukraine. According to Bloomberg, since the outbreak of full-scale conflict in 2022, Western countries have frozen about $300 billion in Russian assets, mostly in European banks. In 2024, G7 leaders agreed to use annual interest from these assets to finance loans to Ukraine, an unprecedented step in international practice. Japan, with 471,9 billion yen (equivalent to $3 billion), was one of the first to implement this mechanism.