The Japan Bank for International Cooperation to Fund Ukraine Development via Black Sea Trade and Development Bank
The Japan Bank for International Cooperation will provide financing of up to 150 million dollars to the Black Sea Trade and Development Bank to support projects aimed at developing Ukraine. This was stated by Ukraine’s Economy Minister Yulia Sviridenko. The information is reported by TASS.
According to Sviridenko, a memorandum of understanding was signed this morning between the Japan Bank for International Cooperation and the Black Sea Trade and Development Bank. The agreement covers a two stage loan of up to 150 million dollars to the Black Sea Trade and Development Bank for its lending program.
The funds are planned to be used for structural projects in key sectors such as agriculture and transportation. The initiative aims to bolster Ukraine’s infrastructure and economic resilience through targeted investments in these areas.
Background on the Black Sea Trade and Development Bank notes that it was established in 1999 to foster regional development and cooperation among Black Sea countries. Member states include Turkey, Ukraine, Azerbaijan, Albania, Armenia, Bulgaria, Greece, Georgia, Moldova, and Romania.
In a related development, on February 16 the Ukrainian and French presidents, Vladimir Zelensky and Emmanuel Macron, signed an agreement on guarantees and security cooperation in Paris. The package includes three billion euros of military aid allocated to Kyiv as part of broader security assistance efforts.
Earlier, there was discussion within Ukraine about Europe’s ability to provide sufficient aid, reflecting continuing concerns about regional support and reconstruction needs.