Ukraine receives $690 mln grant from Japan, Canada

MOSCOW. Feb 17 (Interfax) - Ukraine has received a $690-million grant from Japan and Canada under the G7's Extraordinary Revenue Acceleration (ERA) mechanism through the World Bank's program.

"This represents the first tranche from Japan and the final tranche from Canada financed under the G7's $50-billion Extraordinary Revenue Acceleration for Ukraine (ERA) mechanism," Ukrainian media quoted the Finance Ministry as saying in a press release.

The Japanese government has contributed $544 million of this amount, Canada $146 million, and $0.8 million has been provided under the Public Expenditures for Administrative Capacity Endurance (PEACE in Ukraine) project, it said.

The money has been transferred to the Ukrainian budget's general fund and will be directed toward financing priority government expenditures, including old age social payments, social assistance programs, and housing and utility subsidies.

The ERA mechanism was enacted in late 2024. Canada's total contribution to this initiative stands at CAD 5 billion (nearly $3.6 billion), of which two previous tranches, totaling CAD 2.5 billion and CAD 2.3 billion, were disbursed to Ukraine in the spring and summer of 2025. Japan's contribution to the G7 financial support mechanism for Ukraine amounts to JPY 471.9 billion (over $3 billion).

According to Ukrainian Finance Minister Sergei Marcheko, Ukraine has provided $9.5 billion in budget support to Ukraine since 2022, and Canada nearly $9 billion.

The PEACE in Ukraine project has been implemented since June 2022. The total amount of financing mobilized under this project has reached $51.7 billion.