MOSCOW, April 18. /TASS/. Kiev will receive about $3 billion from Tokyo under an Extraordinary Revenue Acceleration (ERA) program in the form of a loan using income from frozen Russian assets, the Finance Ministry said on its website.
Ukraine’s Finance Minister Sergey Marchenko and Japan’s ambassador extraordinary and plenipotentiary Masashi Nakagome signed an agreement under which Kiev will receive a loan under the G7 ERA program.
"[The agreement] provides for providing a loan to Ukraine in the amount of up to 471.9 billion Japanese yen (about $3 billion)," the ministry said in a statement.
The Finance Ministry added that the loan has a 30-year term. Marchenko said that over the past three years, Japan has already allocated $8.5 billion to Ukraine.
In October last year, the leaders of the Group of Seven countries agreed on the details of providing Ukraine with a $50 billion loan. They said the loans "will be serviced by future revenues from Russia's frozen sovereign assets within the framework of the legal systems of the G7 countries and international law."
The United States has committed to allocate $20 billion to Ukraine, while the remaining $30 billion will be allocated through the joint efforts of the G7 and the EU. In December last year, Ukraine and the EU agreed to create a credit cooperation mechanism for Ukraine, which will define a framework for servicing and repaying European loans to Kiev from proceeds from frozen Russia assets.