Ukraine, JICA sign agreement to receive $3 bln under ERA initiative

Ukraine and the Japanese JICA Agency signed an agreement necessary to receive $3 billion under the Extraordinary Revenue Acceleration (ERA) initiative, Ukrainian Prime Minister Denys Shmyhal said.

"The funds will be repaid from income received from frozen assets of the Russian Federation. We will direct the resource to priority budget expenditures for the development of Ukraine's economy and its strengthening," Shmyhal wrote in the Telegram channel.

The Prime Minister thanked Japan and G7 partners for the mechanism that forces Russia to pay, and noted that in general, $14.7 billion has already been received in Ukraine as part of the ERA implementation.