Japan and Ukraine will sign investment security agreement on Feb 5

4 February 2015 09:10
(QHA) -

The Japanese government at a meeting on February 3 decided to sign a bilateral intergovernmental agreement with Ukraine on the promotion and protection of investment (an investment agreement between Japan and Ukraine).

According to a report on the website of the Japanese Foreign Ministry, the agreement is to be signed by Japanese Ambassador to Ukraine Shigeki Sumi and Ukrainian Minister of Economic Development and Trade Aivaras Abromavicius in Kyiv on February 5.

Earlier, in mid-January this year, Sumi said that Japan in 2015 as part of international assistance programs would issue a $300 million loan to Ukraine for the needs of the budget, as well as a $16.6 million grant for the restoration of social facilities and infrastructure in the east of the country. The ambassador added Japan could also issue funds within the initiative to finance projects in the energy sector.

Ukraine's First Deputy Finance Minister Ihor Umansky specified that Japan's issuing a credit is tied to the World Bank's issuing the second development policy loan (DPL-2, the amount is $500 million). According to him, the completion of all procedures necessary to obtain the funds is expected by late summer.