(Kyiv) – Japan has provided Ukraine with $235 million in concessional financing through two World Bank initiatives aimed at bolstering education and entrepreneurship amidst the challenges of war. The funding is part of Japan’s broader commitment to support Ukraine’s recovery and resilience, following its invasion by Russia in February 2022.
The Ministry of Finance of Ukraine confirmed that the financing is distributed under two distinct projects. The Resilient, Inclusive, and Sustainable Entrepreneurship (RISE) project received $130 million to address barriers to private sector growth, including fostering resilience and long-term sustainable development. Meanwhile, $105 million was allocated to the Learning and Resilience in Education under Crisis in Ukraine (LEARN) project, which focuses on improving access to safe, in-person education by funding shelters and school transportation.
Japan’s support for Ukraine extends well beyond financial aid. As of early 2024, Tokyo has pledged over $12 billion in assistance to Ukraine, encompassing non-lethal military supplies, humanitarian relief, and critical infrastructure recovery efforts. This funding comes in tandem with strict sanctions against Russia. Japan has frozen assets belonging to more than 1,000 individuals and entities, including financial institutions and military-related organizations, while also restricting exports to firms linked to the Russian war effort.
Under the LEARN project, the funding will help ensure safer conditions for students and educators in Ukraine as schools adapt to the ongoing conflict. The RISE project, in contrast, focuses on strengthening Ukraine’s private sector by addressing systemic challenges and enabling long-term economic sustainability. Both initiatives use a results-based financing model, meaning disbursements are tied to meeting specific targets. Ukraine’s government plans to secure an additional $120 million for RISE and $95 million for LEARN by the end of 2024.
Since the onset of the war, Japan has emerged as a vital partner in Ukraine’s recovery, with its budgetary support through World Bank mechanisms reaching nearly $6 billion.
Funding Summary
| Project | Purpose | Amount ($ Million) | Planned Additional Funding ($ Million) |
|---|---|---|---|
| RISE | Resilience and sustainable entrepreneurship | 130 | 120 |
| LEARN | Safe, in-person schooling | 105 | 95 |
| Total | 235 | 215 |
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