Japan to provide JPY 108 bln to Ukraine for reconstruction of Bortnychi aeration station

The Finance Ministry of Ukraine and Japan International Cooperation Agency (JICA) have signed a credit agreement on the provision of JPY 108 billion to Ukraine for the reconstruction of the Bortnychi aeration station near Kyiv.

Finance Minister of Ukraine Natalie Jaresko and JICA Vice President Masakazu Ichikawa signed the agreement on Monday.

The credit has been provided for 40 years at 0.1% per annum.

The finance minister said that the sum of the credit is large, almost $1 billion. She said that the document signed on Monday enlarged the credit agreement worth $100 million, signed with Japan in 2014.

Jaresko said that Japan plans to provide another $300 million to Ukraine this year.

She expressed hope that the credit agreement will be ratified by the Ukrainian parliament in July.

"The agreement we have signed would increase the quality of living of three million of citizens," she said, adding that Japan would provide equipment for the reconstruction of the station and technologies that Ukraine does not have.

Jaresko said that the effect from the reconstruction of the station that was built in 1960s would be felt in 13 cities and towns in Ukraine.